Velchamy Sankarlingam Sells 10,338 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 10,338 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total value of $718,594.38. Following the completion of the transaction, the insider now directly owns 104,414 shares of the company’s stock, valued at $7,257,817.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, September 10th, Velchamy Sankarlingam sold 3,614 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.87, for a total value of $241,668.18.

Zoom Video Communications Stock Down 0.2 %

Zoom Video Communications stock traded down $0.17 during midday trading on Friday, reaching $70.68. The stock had a trading volume of 2,966,738 shares, compared to its average volume of 3,297,382. The firm has a market capitalization of $21.75 billion, a PE ratio of 25.33, a P/E/G ratio of 6.03 and a beta of -0.04. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $74.77. The firm’s 50-day moving average price is $65.37 and its 200 day moving average price is $62.48.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly 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 firm had revenue of $1.16 billion for 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 revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Wall Street Analyst Weigh In

ZM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Morgan Stanley lowered their target price on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. Stifel Nicolaus raised their price target on Zoom Video Communications from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Bank of America reduced their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.05.

Institutional Trading of Zoom Video Communications

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Zoom Video Communications by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock worth $1,683,950,000 after buying an additional 721,923 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after acquiring an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after buying an additional 2,579,720 shares in the last quarter. Acadian Asset Management LLC increased its stake in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after acquiring an additional 1,855,679 shares during the last quarter. Finally, FIL Ltd lifted its stake in Zoom Video Communications by 1.3% in the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock worth $220,749,000 after purchasing an additional 40,456 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

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.