Insider Selling: Zoom Video Communications Inc (NASDAQ:ZM) CEO Sells $30,423,162.54 in Stock

Zoom Video Communications Inc (NASDAQ:ZM) CEO Eric S. Yuan sold 64,542 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $471.37, for a total value of $30,423,162.54. Following the transaction, the chief executive officer now owns 70,143 shares in the company, valued at approximately $33,063,305.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ:ZM opened at $496.50 on Monday. The firm has a market capitalization of $141.22 billion, a price-to-earnings ratio of 636.54, a price-to-earnings-growth ratio of 9.67 and a beta of -1.24. Zoom Video Communications Inc has a twelve month low of $60.97 and a twelve month high of $529.74. The stock’s 50 day moving average price is $339.84 and its two-hundred day moving average price is $227.20. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, August 31st. The company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.47. The firm had revenue of $663.50 million for the quarter, compared to analyst estimates of $500.37 million. Zoom Video Communications had a return on equity of 27.93% and a net margin of 17.10%. The business’s quarterly revenue was up 354.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. As a group, analysts anticipate that Zoom Video Communications Inc will post 1.59 earnings per share for the current year.

A number of brokerages have issued reports on ZM. Bank of America raised their target price on Zoom Video Communications from $260.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Oppenheimer restated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, September 1st. Morgan Stanley raised their target price on Zoom Video Communications from $240.00 to $350.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 1st. Cfra began coverage on Zoom Video Communications in a report on Wednesday, July 15th. They set a “sell” rating and a $215.00 target price on the stock. Finally, KeyCorp reiterated a “buy” rating on shares of Zoom Video Communications in a report on Monday, August 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the company. Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $355.00.

Several large investors have recently bought and sold shares of the business. M&T Bank Corp increased its holdings in shares of Zoom Video Communications by 13.2% during the 1st quarter. M&T Bank Corp now owns 3,395 shares of the company’s stock worth $496,000 after acquiring an additional 395 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Zoom Video Communications during the 2nd quarter worth approximately $16,376,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Zoom Video Communications during the 2nd quarter worth approximately $6,313,000. Victory Capital Management Inc. boosted its stake in Zoom Video Communications by 591.7% in the 2nd quarter. Victory Capital Management Inc. now owns 76,334 shares of the company’s stock valued at $19,354,000 after purchasing an additional 65,299 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Zoom Video Communications in the 2nd quarter valued at $4,476,000. 37.97% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides a video-first communications platform that changes how people interact primarily in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It connects people through frictionless video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video experiences and connects users across various devices and locations in a single meeting.

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Insider Buying and Selling by Quarter for Zoom Video Communications (NASDAQ:ZM)

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