Kelly Steckelberg Sells 5,007 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total value of $297,215.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Kelly Steckelberg also recently made the following trade(s):

• On Wednesday, April 3rd, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.39, for a total value of $317,393.73.
• On Wednesday, March 20th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.46, for a total value of $332,765.22.
• On Wednesday, March 6th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $67.08, for a total value of $335,869.56.

Zoom Video Communications Price Performance

Shares of ZM stock traded down $0.49 during trading on Friday, reaching $59.45. The company had a trading volume of 2,541,509 shares, compared to its average volume of 3,332,161. The company has a market capitalization of $18.28 billion, a PE ratio of 29.17 and a beta of -0.07. The firm's 50 day simple moving average is $64.95 and its two-hundred day simple moving average is $66.03. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year high of $75.90.

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

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZM. Renaissance Technologies LLC grew its holdings in Zoom Video Communications by 61.0% in the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company's stock valued at $756,052,000 after buying an additional 2,444,294 shares during the last quarter. Norges Bank acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $164,224,000. Acadian Asset Management LLC grew its holdings in shares of Zoom Video Communications by 639.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company's stock worth $113,916,000 after purchasing an additional 1,408,908 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company's stock worth $1,587,326,000 after purchasing an additional 1,000,005 shares in the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company's stock worth $788,463,000 after purchasing an additional 781,663 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZM. Wedbush reaffirmed a "neutral" rating and set a $80.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 27th. BNP Paribas downgraded Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price target for the company. in a research note on Thursday, January 18th. Rosenblatt Securities raised Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Thursday. JPMorgan Chase & Co. cut their price target on Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, February 27th. Finally, Mizuho cut their price target on Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $77.56.

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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