Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) CEO Eric S. Yuan sold 2,420 shares of the company's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.82, for a total transaction of $149,604.40. Following the sale, the chief executive officer now directly owns 90,300 shares in the company, valued at approximately $5,582,346. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Zoom Video Communications Stock Performance
NASDAQ ZM opened at $61.23 on Thursday. The company has a market capitalization of $18.83 billion, a price-to-earnings ratio of 30.01 and a beta of -0.05. The stock has a 50-day moving average of $64.43 and a 200 day moving average of $65.74. Zoom Video Communications, Inc. has a one year low of $58.87 and a one year high of $75.90.
Zoom Video Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities analysts predict that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Top 5 AI Stocks to Buy for 2024
From Market Moving Trends | Ad
5 Best AI Stocks to Invest In
Investors are getting very rich in AI stocks right now. Wall Street legend is giving away the name and ticker of the little-known AI stock Wall Street is currently buying hand-over-fist.
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Several equities research analysts recently issued reports on the company. Rosenblatt Securities raised Zoom Video Communications from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Thursday, April 18th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research report on Tuesday, March 19th. They set a "hold" rating and a $70.00 price objective on the stock. Wedbush reiterated a "neutral" rating and issued a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. JPMorgan Chase & Co. lowered 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. Finally, BNP Paribas cut Zoom Video Communications from a "neutral" rating to an "underperform" rating and set a $60.00 price objective for the company. in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $77.56.
View Our Latest Analysis on Zoom Video Communications
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company's stock valued at $1,683,950,000 after buying an additional 721,923 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Zoom Video Communications by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company's stock valued at $788,463,000 after buying an additional 781,663 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Zoom Video Communications by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,612,008 shares of the company's stock worth $475,469,000 after acquiring an additional 216,768 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in Zoom Video Communications by 4.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 6,046,234 shares of the company's stock valued at $434,785,000 after acquiring an additional 233,321 shares in the last quarter. Finally, FIL Ltd increased its holdings in Zoom Video Communications by 1.3% in the 4th quarter. FIL Ltd now owns 3,069,797 shares of the company's stock valued at $220,749,000 after acquiring an additional 40,456 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.
About Zoom Video Communications
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
