Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Sells $145,242.18 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Shane Crehan sold 2,493 shares of Zoom Video Communications stock in a transaction on Monday, July 8th. The shares were sold at an average price of $58.26, for a total transaction of $145,242.18. Following the completion of the sale, the chief accounting officer now directly owns 2,367 shares of the company’s stock, valued at approximately $137,901.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shane Crehan also recently made the following trade(s):

• On Thursday, June 13th, Shane Crehan sold 363 shares of Zoom Video Communications stock. The shares were sold at an average price of $60.25, for a total transaction of $21,870.75.
• On Tuesday, June 11th, Shane Crehan sold 1,475 shares of Zoom Video Communications stock. The shares were sold at an average price of $62.99, for a total transaction of $92,910.25.
• On Sunday, June 9th, Shane Crehan sold 1,538 shares of Zoom Video Communications stock. The shares were sold at an average price of $62.42, for a total transaction of $96,001.96.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $56.60 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.63 and a 52-week high of $75.90. The stock’s 50-day simple moving average is $60.51 and its 200 day simple moving average is $63.96. The stock has a market capitalization of $17.51 billion, a P/E ratio of 21.12, a P/E/G ratio of 8.59 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Equities research analysts forecast that Zoom Video Communications, Inc. will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $25,000. Quadrant Capital Group LLC increased its position in shares of Zoom Video Communications by 269.7% during the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after buying an additional 267 shares during the period. Frazier Financial Advisors LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Zoom Video Communications during the second quarter valued at about $36,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $43,000. 66.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ZM shares. Piper Sandler cut their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price objective on shares of Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 21st. Morgan Stanley cut their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, May 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $75.22.

Zoom Video Communications Company Profile

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.