Kelly Steckelberg Sells 8,901 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were 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 stock was sold at an average price of $56.64, for a total value of $283,596.48.
• On Wednesday, July 24th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $58.64, for a total transaction of $293,610.48.
• On Tuesday, July 9th, Kelly Steckelberg sold 14,397 shares of Zoom Video Communications stock. The stock was sold at an average price of $57.15, for a total transaction of $822,788.55.
• On Wednesday, June 26th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $57.59, for a total transaction of $288,353.13.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded up $0.62 during trading hours on Friday, hitting $67.53. 4,363,937 shares of the company's stock traded hands, compared to its average volume of 3,366,748. The business has a fifty day moving average price of $62.52 and a 200-day moving average price of $62.33. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77. The firm has a market capitalization of $20.89 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 5.83 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the business earned $0.55 EPS. Zoom Video Communications's revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZM. Deutsche Bank Aktiengesellschaft raised 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. Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a "buy" rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Morgan Stanley reduced their price target 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. Finally, Benchmark reiterated a "buy" rating and set a $83.00 price objective on shares of Zoom Video Communications in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $74.68.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZM. Pacer Advisors Inc. increased 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 worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC increased its stake in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Norges Bank bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $164,224,000. Acadian Asset Management LLC lifted its stake in Zoom Video Communications by 60.9% in 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 period. Finally, Vanguard Group Inc. grew its holdings in Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company's stock worth $1,683,950,000 after acquiring an additional 721,923 shares in the last quarter. 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.

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