Zoom Video Communications, Inc. (NASDAQ:ZM) Director Janet Napolitano Sells 2,617 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Janet Napolitano sold 2,617 shares of Zoom Video Communications stock in a transaction on Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the transaction, the director now owns 4,728 shares in the company, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded down $0.78 during mid-day trading on Friday, hitting $76.63. The company's stock had a trading volume of 2,266,932 shares, compared to its average volume of 2,945,492. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a market cap of $23.18 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 5.48 and a beta of 0.71. The firm's 50 day moving average is $77.64 and its 200 day moving average is $79.47.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Zoom Video Communications during the 4th quarter valued at $751,908,000. Altshuler Shaham Ltd raised its holdings in shares of Zoom Video Communications by 285.9% during the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock worth $167,813,000 after acquiring an additional 1,523,480 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Zoom Video Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Zoom Video Communications during the fourth quarter valued at $99,471,000. Finally, Contrarius Group Holdings Ltd purchased a new position in Zoom Video Communications in the fourth quarter valued at about $72,854,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wall Street Zen cut Zoom Video Communications from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 7th. JPMorgan Chase & Co. raised their price objective on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Rosenblatt Securities lifted their price objective on shares of Zoom Video Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC raised shares of Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price for the company in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $87.00.

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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