Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Sells $13,733,895.61 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Zoom Video Communications Stock Up 0.6 %

Shares of NASDAQ ZM traded up $0.50 during midday trading on Thursday, reaching $80.19. 2,288,323 shares of the company’s stock traded hands, compared to its average volume of 3,223,057. The stock’s 50 day simple moving average is $70.01 and its 200-day simple moving average is $63.80. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $80.47. The company has a market cap of $24.68 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 6.51 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. Equities analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ZM. Innealta Capital LLC purchased a new position in shares of Zoom Video Communications in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications during the second quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zoom Video Communications during the second quarter worth $41,000. Allworth Financial LP raised its holdings in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $75.32.

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.