Zoom Video Communications, Inc. (NASDAQ:ZM) Director Kimberly Hammonds Sells 189 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Kimberly Hammonds sold 189 shares of the business’s stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $350.00, for a total transaction of $66,150.00. Following the transaction, the director now owns 189 shares in the company, valued at approximately $66,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of ZM opened at $346.50 on Friday. The stock’s 50-day simple moving average is $321.51. The firm has a market capitalization of $101.77 billion, a PE ratio of 154.00, a PEG ratio of 10.01 and a beta of -1.49. Zoom Video Communications, Inc. has a 1 year low of $216.75 and a 1 year high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, May 31st. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.33. Zoom Video Communications had a net margin of 25.34% and a return on equity of 37.79%. The company had revenue of $956.24 million for the quarter, compared to analysts’ expectations of $908.17 million. During the same quarter last year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 191.4% on a year-over-year basis. On average, sell-side analysts predict that Zoom Video Communications, Inc. will post 2.22 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in Zoom Video Communications by 27.0% in the 4th quarter. Victory Capital Management Inc. now owns 103,834 shares of the company’s stock valued at $35,025,000 after purchasing an additional 22,087 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Zoom Video Communications by 3.0% during the 4th quarter. State of Michigan Retirement System now owns 8,356 shares of the company’s stock worth $2,819,000 after purchasing an additional 246 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Zoom Video Communications by 5.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,262 shares of the company’s stock worth $9,871,000 after acquiring an additional 1,622 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Zoom Video Communications by 44.6% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 639 shares of the company’s stock worth $216,000 after acquiring an additional 197 shares during the period. Finally, Wade G W & Inc. boosted its holdings in Zoom Video Communications by 10.8% in the 4th quarter. Wade G W & Inc. now owns 3,128 shares of the company’s stock worth $1,055,000 after acquiring an additional 306 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

A number of equities research analysts have recently commented on ZM shares. Royal Bank of Canada cut their price target on shares of Zoom Video Communications from $550.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, May 28th. Zacks Investment Research raised shares of Zoom Video Communications from a “hold” rating to a “strong-buy” rating and set a $386.00 target price for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zoom Video Communications from $360.00 to $375.00 and gave the stock a “hold” rating in a report on Wednesday, June 2nd. Bank of America started coverage on shares of Zoom Video Communications in a report on Tuesday, April 20th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Zoom Video Communications from $385.00 to $456.00 and gave the company a “neutral” rating in a report on Wednesday, June 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $426.19.

About Zoom Video Communications

Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.

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