Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Sells 2,595 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) insider Velchamy Sankarlingam sold 2,595 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $80.26, for a total transaction of $208,274.70. Following the completion of the transaction, the insider now directly owns 126,393 shares in the company, valued at approximately $10,144,302.18. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, April 15th, Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded down $0.78 during trading on Friday, reaching $76.63. 2,266,932 shares of the company traded hands, compared to its average volume of 2,945,493. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a 50 day moving average price of $77.64 and a 200-day moving average price of $79.47. The firm has a market capitalization of $23.18 billion, a PE ratio of 25.54, a P/E/G ratio of 5.48 and a beta of 0.71.

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

Analyst Upgrades and Downgrades

ZM has been the topic of several research reports. Scotiabank lifted their price target on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 16th. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a report on Thursday, May 22nd. Wall Street Zen downgraded shares of Zoom Video Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 7th. Needham & Company LLC upgraded shares of Zoom Video Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price on the stock in a research report on Thursday, May 22nd. Finally, Barclays cut their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $87.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Zoom Video Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after purchasing an additional 624,863 shares in the last quarter. FMR LLC increased its stake in Zoom Video Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank bought a new stake in Zoom Video Communications during the 4th quarter valued at $751,908,000. AQR Capital Management LLC increased its stake in Zoom Video Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after purchasing an additional 373,509 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in Zoom Video Communications by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after purchasing an additional 36,210 shares in the last quarter. 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.