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

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) CFO Kelly Steckelberg sold 5,007 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $61.42, for a total transaction of $307,529.94. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, April 17th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $59.36, for a total value of $297,215.52.
• On Wednesday, April 3rd, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were 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 shares were 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 shares were sold at an average price of $67.08, for a total value of $335,869.56.

Zoom Video Communications Trading Down 1.6 %

Shares of ZM stock traded down $1.01 on Friday, reaching $61.82. The company had a trading volume of 3,041,179 shares, compared to its average volume of 3,283,420. The company has a 50-day moving average of $64.61 and a 200-day moving average of $65.72. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90. The stock has a market cap of $19.01 billion, a PE ratio of 30.30 and a beta of -0.05.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Avory & Company LLC lifted its position in Zoom Video Communications by 11.3% during the first quarter. Avory & Company LLC now owns 263,578 shares of the company's stock worth $17,230,000 after acquiring an additional 26,747 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Zoom Video Communications in the 1st quarter valued at $1,486,000. BI Asset Management Fondsmaeglerselskab A S raised its position in Zoom Video Communications by 4.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 72,426 shares of the company's stock valued at $4,734,000 after purchasing an additional 3,385 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Zoom Video Communications by 7.1% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,825 shares of the company's stock valued at $512,000 after buying an additional 522 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new position in shares of Zoom Video Communications during the first quarter valued at $1,876,000. Institutional investors own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZM. Mizuho decreased 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 note on Tuesday, February 27th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They issued a "hold" rating and a $70.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, February 27th. Piper Sandler upped their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, January 12th. Finally, BNP Paribas cut shares of Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 target price for the company. in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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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