Insider Selling: Zoom Video Communications Inc (NASDAQ:ZM) Director Sells $2,352,500.00 in Stock

Zoom Video Communications Inc (NASDAQ:ZM) Director Jonathan Chadwick sold 10,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $235.25, for a total value of $2,352,500.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $2,352,500. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of NASDAQ:ZM opened at $243.48 on Friday. The stock has a market cap of $66.79 billion, a price-to-earnings ratio of 1,432.24 and a beta of -1.56. Zoom Video Communications Inc has a 52-week low of $60.97 and a 52-week high of $243.88. The business has a 50-day moving average price of $182.92 and a 200-day moving average price of $119.64. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.07.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Tuesday, June 2nd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.01 by $0.19. The firm had revenue of $328.20 million for the quarter, compared to analyst estimates of $203.53 million. Zoom Video Communications had a return on equity of 6.29% and a net margin of 6.04%. Zoom Video Communications’s revenue for the quarter was up 169.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. As a group, equities analysts anticipate that Zoom Video Communications Inc will post 0.82 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in Zoom Video Communications by 193.8% during the first quarter. Royal Bank of Canada now owns 94,990 shares of the company’s stock worth $13,880,000 after acquiring an additional 62,654 shares during the period. Cunning Capital Partners LP acquired a new stake in Zoom Video Communications during the first quarter worth about $1,023,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Zoom Video Communications by 10.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 21,400 shares of the company’s stock valued at $3,127,000 after purchasing an additional 2,100 shares during the period. 1832 Asset Management L.P. acquired a new stake in Zoom Video Communications in the first quarter valued at approximately $20,249,000. Finally, Verus Capital Partners LLC grew its holdings in Zoom Video Communications by 294.9% in the first quarter. Verus Capital Partners LLC now owns 1,544 shares of the company’s stock valued at $226,000 after purchasing an additional 1,153 shares during the period. 29.01% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on ZM. Goldman Sachs Group upped their price objective on Zoom Video Communications from $90.00 to $154.00 and gave the stock a “sell” rating in a research note on Wednesday, June 3rd. Guggenheim upped their price objective on Zoom Video Communications from $135.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Wells Fargo & Co upped their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Needham & Company LLC upped their price objective on Zoom Video Communications from $140.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Citigroup upped their price objective on Zoom Video Communications from $186.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $196.14.

About Zoom Video Communications

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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