Velchamy Sankarlingam Sells 3,272 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total transaction of $186,994.80. Following the completion of the transaction, the insider now owns 82,792 shares in the company, valued at $4,731,562.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, June 11th, Velchamy Sankarlingam sold 1,551 shares of Zoom Video Communications stock. The stock was sold at an average price of $62.99, for a total transaction of $97,697.49.
• On Sunday, June 9th, Velchamy Sankarlingam sold 3,589 shares of Zoom Video Communications stock. The stock was sold at an average price of $62.42, for a total transaction of $224,025.38.

Zoom Video Communications Trading Down 1.5 %

ZM traded down $0.88 during midday trading on Wednesday, hitting $56.00. The company’s stock had a trading volume of 3,956,558 shares, compared to its average volume of 3,324,907. The firm has a market cap of $17.32 billion, a P/E ratio of 20.90, a PEG ratio of 8.81 and a beta of -0.05. The firm has a 50-day moving average price of $60.63 and a two-hundred day moving average price of $64.01. Zoom Video Communications, Inc. has a 52-week low of $55.63 and a 52-week high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, May 20th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.51 by $0.23. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. On average, equities analysts expect that Zoom Video Communications, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ZM shares. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, May 21st. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price on the stock. Morgan Stanley cut their price target 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. Piper Sandler cut their price target on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Evercore ISI cut their price target on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $75.22.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Zoom Video Communications by 6.0% during the 2nd quarter. CWM LLC now owns 8,304 shares of the company’s stock worth $492,000 after purchasing an additional 471 shares during the period. Versant Capital Management Inc grew its holdings in shares of Zoom Video Communications by 1,257.7% during the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after purchasing an additional 893 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $36,000. DNB Asset Management AS grew its holdings in shares of Zoom Video Communications by 4.8% during the 2nd quarter. DNB Asset Management AS now owns 41,219 shares of the company’s stock worth $2,440,000 after purchasing an additional 1,903 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Zoom Video Communications by 613.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 529,041 shares of the company’s stock worth $34,980,000 after acquiring an additional 454,923 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

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.