Eric S. Yuan Sells 27,963 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the sale, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Zoom Video Communications Stock Performance

Shares of ZM traded down $0.89 during trading hours on Friday, reaching $61.63. The stock had a trading volume of 2,700,517 shares, compared to its average volume of 3,363,635. The stock has a market capitalization of $18.95 billion, a PE ratio of 30.45 and a beta of -0.07. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90. The company’s 50-day moving average is $65.33 and its two-hundred day moving average is $66.32.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. Equities analysts anticipate that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Jefferies Financial Group began coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price target for the company. JPMorgan Chase & Co. reduced their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Mizuho dropped their price objective on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.56.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the business. Principal Securities Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at about $25,000. Quadrant Capital Group LLC lifted its stake in Zoom Video Communications by 269.7% in 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. AM Squared Ltd bought a new position in shares of Zoom Video Communications during the 3rd quarter worth approximately $28,000. LM Advisors LLC bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $29,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $32,000. 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.