Eric S. Yuan Sells 2,420 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) 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 shares were sold at an average price of $61.82, for a total transaction of $149,604.40. Following the sale, the chief executive officer now owns 90,300 shares in the company, valued at approximately $5,582,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zoom Video Communications Stock Performance

Shares of ZM traded down $0.91 during trading hours on Wednesday, reaching $61.23. 2,696,774 shares of the company traded hands, compared to its average volume of 3,260,201. The stock’s fifty day moving average is $64.43 and its 200 day moving average is $65.74. The stock has a market cap of $18.83 billion, a P/E ratio of 30.01 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. On average, equities research analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ZM. Piper Sandler increased 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. Jefferies Financial Group started coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective for the company. Rosenblatt Securities raised Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, April 18th. Mizuho reduced their price target 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. Finally, BNP Paribas lowered shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $77.56.

Institutional Investors Weigh In On Zoom Video Communications

Several large investors have recently made changes to their positions in ZM. Pearl River Capital LLC lifted its position in shares of Zoom Video Communications by 31.6% during the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock worth $2,601,000 after purchasing an additional 8,928 shares in the last quarter. California Public Employees Retirement System increased its position in 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 purchasing an additional 14,945 shares during the period. CIBC Asset Management Inc lifted its position in 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 purchasing an additional 5,826 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $1,587,326,000 after purchasing an additional 1,000,005 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC grew its position 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 buying an additional 66,433 shares during the period. Institutional investors 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.