Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan Sells 2,420 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.82, for a total transaction of $149,604.40. Following the sale, the chief executive officer now directly owns 90,300 shares in the company, valued at approximately $5,582,346. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $61.23 on Thursday. The company has a market capitalization of $18.83 billion, a P/E ratio of 30.01 and a beta of -0.05. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The stock has a 50-day simple moving average of $64.43 and a 200-day simple moving average of $65.74.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Pearl River Capital LLC increased its holdings in Zoom Video Communications by 31.6% during the 3rd quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after acquiring an additional 8,928 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Zoom Video Communications by 3.4% in the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock worth $32,231,000 after acquiring an additional 14,945 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Zoom Video Communications by 15.9% during the 3rd quarter. CIBC Asset Management Inc now owns 42,353 shares of the company’s stock valued at $2,962,000 after buying an additional 5,826 shares during the period. Vanguard Group Inc. raised its position in shares of Zoom Video Communications by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after buying an additional 1,000,005 shares during the period. Finally, Galvin Gaustad & Stein LLC grew its holdings in shares of Zoom Video Communications by 25.4% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock worth $23,590,000 after purchasing an additional 66,433 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Mizuho reduced their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Jefferies Financial Group assumed coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target on the stock. Piper Sandler upped their target price on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and an average target price of $77.56.

Zoom Video Communications Company Profile

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.