Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg Sells 5,007 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, April 3rd, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.39, for a total transaction of $317,393.73.
• On Wednesday, March 20th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $66.46, for a total value of $332,765.22.
• On Wednesday, March 6th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $67.08, for a total value of $335,869.56.

Zoom Video Communications Stock Performance

Shares of ZM stock traded down $0.49 during trading hours on Friday, hitting $59.45. 2,541,509 shares of the company were exchanged, compared to its average volume of 3,332,161. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The firm has a market cap of $18.28 billion, a P/E ratio of 29.17 and a beta of -0.07. The company has a 50 day simple moving average of $64.95 and a two-hundred day simple moving average of $66.03.

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

Institutional Trading of Zoom Video Communications

Several hedge funds have recently added to or reduced their stakes in the stock. Hudson Capital Management LLC increased its holdings in Zoom Video Communications by 2.6% in the 1st quarter. Hudson Capital Management LLC now owns 56,275 shares of the company’s stock worth $3,679,000 after acquiring an additional 1,419 shares during the last quarter. Diversified Trust Co boosted its stake in Zoom Video Communications by 219.4% in the first quarter. Diversified Trust Co now owns 36,422 shares of the company’s stock worth $2,381,000 after buying an additional 25,020 shares in the last quarter. SteelPeak Wealth LLC raised its position in Zoom Video Communications by 189.6% in the 1st quarter. SteelPeak Wealth LLC now owns 15,830 shares of the company’s stock worth $1,035,000 after purchasing an additional 10,364 shares during the period. Grimes & Company Inc. grew its position in Zoom Video Communications by 2.7% during the 1st quarter. Grimes & Company Inc. now owns 167,512 shares of the company’s stock worth $10,950,000 after acquiring an additional 4,473 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Zoom Video Communications by 128.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,038 shares of the company’s stock valued at $722,000 after buying an additional 6,206 shares during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of several recent research reports. Mizuho reduced their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Piper Sandler raised their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company 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 objective for the company. Finally, Rosenblatt Securities raised shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.56.

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.