Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Velchamy Sankarlingam Sells 1,586 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 1,586 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $70.69, for a total transaction of $112,114.34. Following the completion of the transaction, the insider now directly owns 58,306 shares in the company, valued at $4,121,651.14. The sale was disclosed in a document filed with the SEC, which is available at this link.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $71.57 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $60.45 and a fifty-two week high of $89.67. The firm has a 50 day moving average price of $69.69 and a 200 day moving average price of $68.48. The company has a market capitalization of $21.54 billion, a PE ratio of 162.66, a price-to-earnings-growth ratio of 1.17 and a beta of -0.20.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, August 21st. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.06 by $0.28. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, equities research analysts forecast that Zoom Video Communications, Inc. will post 1.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein decreased their price target on shares of Zoom Video Communications from $92.00 to $82.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. HSBC initiated coverage on shares of Zoom Video Communications in a research note on Friday. They issued a “buy” rating and a $83.00 target price on the stock. Piper Sandler decreased their target price on shares of Zoom Video Communications from $78.00 to $76.00 in a research note on Tuesday, May 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Zoom Video Communications from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.09.

Hedge Funds Weigh In On Zoom Video Communications

Institutional investors have recently modified their holdings of the business. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Neo Ivy Capital Management grew its stake in shares of Zoom Video Communications by 56.8% in the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Covestor Ltd grew its stake in shares of Zoom Video Communications by 76.7% in the first quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after acquiring an additional 171 shares in the last quarter. Money Concepts Capital Corp grew its stake in shares of Zoom Video Communications by 821.2% in the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock worth $32,000 after acquiring an additional 427 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Zoom Video Communications by 69.2% in the first quarter. Allworth Financial LP now owns 587 shares of the company’s stock worth $43,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.