Zoom Video Communications, Inc. (NASDAQ:ZM) CMO Janine Pelosi Sells 8,000 Shares of Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CMO Janine Pelosi sold 8,000 shares of the stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $349.00, for a total transaction of $2,792,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of ZM opened at $346.50 on Friday. The company has a market capitalization of $101.77 billion, a price-to-earnings ratio of 154.00, a PEG ratio of 10.01 and a beta of -1.49. The company’s 50 day simple moving average is $321.51. Zoom Video Communications, Inc. has a twelve month low of $216.75 and a twelve month high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Monday, May 31st. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $0.99 by $0.33. Zoom Video Communications had a return on equity of 37.79% and a net margin of 25.34%. The company had revenue of $956.24 million for the quarter, compared to the consensus estimate of $908.17 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 191.4% compared to the same quarter last year. Analysts anticipate that Zoom Video Communications, Inc. will post 2.22 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on ZM. Daiwa Capital Markets began coverage on shares of Zoom Video Communications in a research report on Wednesday, March 31st. They issued a “sell” rating and a $250.00 target price for the company. Mizuho reduced their price objective on shares of Zoom Video Communications from $550.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, May 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zoom Video Communications from $360.00 to $375.00 and gave the company a “hold” rating in a research report on Wednesday, June 2nd. BTIG Research reduced their price objective on shares of Zoom Video Communications from $550.00 to $495.00 and set a “buy” rating for the company in a research report on Wednesday, June 2nd. They noted that the move was a valuation call. Finally, Rosenblatt Securities raised their price objective on shares of Zoom Video Communications from $350.00 to $400.00 and gave the company a “neutral” rating in a research report on Tuesday, March 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Zoom Video Communications has an average rating of “Hold” and a consensus target price of $426.19.

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Zoom Video Communications by 250.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,537,274 shares of the company’s stock valued at $4,028,101,000 after purchasing an additional 8,964,122 shares during the last quarter. BlackRock Inc. grew its stake in shares of Zoom Video Communications by 5.0% in the first quarter. BlackRock Inc. now owns 11,251,610 shares of the company’s stock worth $3,615,029,000 after acquiring an additional 535,410 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Zoom Video Communications by 22.6% in the first quarter. Baillie Gifford & Co. now owns 8,100,660 shares of the company’s stock worth $2,602,661,000 after acquiring an additional 1,495,639 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Zoom Video Communications by 214.4% in the first quarter. ARK Investment Management LLC now owns 3,002,347 shares of the company’s stock worth $964,624,000 after acquiring an additional 2,047,276 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Zoom Video Communications by 5.5% in the first quarter. Renaissance Technologies LLC now owns 2,520,863 shares of the company’s stock worth $809,928,000 after acquiring an additional 132,329 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

Zoom Video Communications Company Profile

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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

Insider Buying and Selling by Quarter for Zoom Video Communications (NASDAQ:ZM)

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