Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg Sells 14,151 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 14,151 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $68.12, for a total transaction of $963,966.12. Following the transaction, the chief financial officer now owns 140,427 shares of the company’s stock, valued at approximately $9,565,887.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kelly Steckelberg also recently made the following trade(s):

• On Wednesday, October 2nd, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $67.79, for a total transaction of $603,398.79.
• On Wednesday, September 18th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.47, for a total value of $591,649.47.
• On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The stock was sold at an average price of $68.44, for a total value of $609,184.44.
• On Wednesday, August 21st, Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock. The stock was sold at an average price of $59.70, for a total value of $299,276.10.
• On Wednesday, August 7th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $56.64, for a total transaction of $283,596.48.
• On Wednesday, July 24th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $58.64, for a total transaction of $293,610.48.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $70.85 on Friday. The stock has a market capitalization of $21.81 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 6.03 and a beta of -0.04. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $74.77. The stock has a fifty day moving average of $65.14 and a 200-day moving average of $62.42.

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

Institutional Investors Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential PLC boosted its holdings in Zoom Video Communications by 33.1% during the fourth quarter. Prudential PLC now owns 8,581 shares of the company’s stock worth $617,000 after buying an additional 2,136 shares during the last quarter. Bridgewater Associates LP raised its position in shares of Zoom Video Communications by 4,370.9% in the 4th quarter. Bridgewater Associates LP now owns 192,205 shares of the company’s stock valued at $13,821,000 after acquiring an additional 187,906 shares during the period. Cantor Fitzgerald L. P. raised its position in shares of Zoom Video Communications by 2.7% in the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock valued at $544,000 after acquiring an additional 197 shares during the period. FIL Ltd boosted its stake in Zoom Video Communications by 1.3% during the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after acquiring an additional 40,456 shares during the last quarter. Finally, Clarity Capital Partners LLC acquired a new position in Zoom Video Communications during the fourth quarter valued at approximately $904,000. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ZM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Thursday. Robert W. Baird decreased their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley dropped their price objective on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, June 14th. Stifel Nicolaus upped their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.05.

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.