Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Shane Crehan sold 80 shares of the business's stock in a transaction on Friday, June 18th. The stock was sold at an average price of $375.00, for a total value of $30,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.
ZM stock traded up $5.40 during trading on Tuesday, reaching $374.65. 1,981,307 shares of the stock were exchanged, compared to its average volume of 4,375,410. The business's 50 day simple moving average is $327.97. Zoom Video Communications, Inc. has a twelve month low of $230.00 and a twelve month high of $588.84. The firm has a market capitalization of $110.39 billion, a price-to-earnings ratio of 129.19, a P/E/G ratio of 7.12 and a beta of -1.48.
Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, May 31st. The company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.33. Zoom Video Communications had a return on equity of 36.26% and a net margin of 26.59%. The business had revenue of $956.24 million for the quarter, compared to the consensus estimate of $908.17 million. During the same period in the prior year, the business earned $0.20 EPS. The firm's revenue for the quarter was up 191.4% on a year-over-year basis. Research analysts predict that Zoom Video Communications, Inc. will post 3.29 EPS for the current fiscal year.
A number of brokerages recently weighed in on ZM. Piper Sandler reduced their price objective on Zoom Video Communications from $541.00 to $464.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 2nd. JPMorgan Chase & Co. boosted their price objective on Zoom Video Communications from $385.00 to $456.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 2nd. Morgan Stanley boosted their price objective on Zoom Video Communications from $390.00 to $420.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 2nd. Argus upgraded Zoom Video Communications from a "hold" rating to a "buy" rating and set a $440.00 price target on the stock in a research report on Thursday, June 10th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Zoom Video Communications from $362.00 to $380.00 and gave the company a "neutral" rating in a research report on Wednesday, June 2nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. The stock currently has a consensus rating of "Hold" and an average price target of $425.07.
Hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank raised its stake in shares of Zoom Video Communications by 28.1% in the fourth quarter. Toronto Dominion Bank now owns 34,675 shares of the company's stock worth $11,697,000 after purchasing an additional 7,603 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Zoom Video Communications by 99.3% in the fourth quarter. Lido Advisors LLC now owns 2,668 shares of the company's stock worth $899,000 after purchasing an additional 1,329 shares during the last quarter. Prudential PLC raised its stake in shares of Zoom Video Communications by 458.8% in the fourth quarter. Prudential PLC now owns 5,074 shares of the company's stock worth $1,711,000 after purchasing an additional 4,166 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Zoom Video Communications by 14.7% in the fourth quarter. Alliancebernstein L.P. now owns 122,742 shares of the company's stock worth $41,403,000 after purchasing an additional 15,758 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Zoom Video Communications by 6.0% in the fourth quarter. Profund Advisors LLC now owns 29,168 shares of the company's stock worth $9,839,000 after purchasing an additional 1,649 shares during the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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