Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Sells $238,719.27 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) insider Velchamy Sankarlingam sold 3,791 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $62.97, for a total transaction of $238,719.27. Following the sale, the insider now owns 91,721 shares of the company's stock, valued at approximately $5,775,671.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, March 12th, Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00.
• On Wednesday, January 10th, Velchamy Sankarlingam sold 15,611 shares of Zoom Video Communications stock. The shares were sold at an average price of $67.98, for a total transaction of $1,061,235.78.

Zoom Video Communications Stock Performance

NASDAQ ZM traded up $0.84 during mid-day trading on Tuesday, reaching $63.85. 3,282,124 shares of the stock were exchanged, compared to its average volume of 3,396,262. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The business's fifty day simple moving average is $65.49 and its 200 day simple moving average is $66.41. The stock has a market capitalization of $19.64 billion, a PE ratio of 30.83 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, analysts anticipate that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a "neutral" rating in a research report on Friday, January 12th. Rosenblatt Securities restated a "neutral" rating and issued a $75.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, March 26th. Mizuho reduced their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 27th. Jefferies Financial Group initiated coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They issued a "hold" rating and a $70.00 price objective for the company. Finally, BNP Paribas downgraded shares of Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price objective for the company. in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus target price of $77.56.

Institutional Trading of Zoom Video Communications

Hedge funds have recently bought and sold shares of the company. AlphaCrest Capital Management LLC boosted its holdings in shares of Zoom Video Communications by 17.4% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,150 shares of the company's stock valued at $369,000 after purchasing an additional 466 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Zoom Video Communications in the 1st quarter valued at $1,652,000. Panagora Asset Management Inc. boosted its holdings in shares of Zoom Video Communications by 45.5% in the 1st quarter. Panagora Asset Management Inc. now owns 10,985 shares of the company's stock valued at $1,288,000 after purchasing an additional 3,434 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of Zoom Video Communications by 11.3% in the 1st quarter. Cibc World Market Inc. now owns 4,364 shares of the company's stock valued at $512,000 after purchasing an additional 442 shares during the last quarter. Finally, Prudential PLC acquired a new position in shares of Zoom Video Communications in the 1st quarter valued at $263,000. Institutional investors and hedge funds own 66.54% of the company's stock.

About Zoom Video Communications

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.

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