Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Velchamy Sankarlingam Sells 2,595 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 2,595 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $80.26, for a total transaction of $208,274.70. Following the transaction, the insider now owns 126,393 shares in the company, valued at approximately $10,144,302.18. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, April 15th, Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49.

Zoom Video Communications Stock Down 1.6%

ZM opened at $78.16 on Thursday. The firm has a market cap of $23.65 billion, a P/E ratio of 26.05, a PEG ratio of 5.48 and a beta of 0.71. The business’s fifty day simple moving average is $77.25 and its 200 day simple moving average is $79.59. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Video Communications had a net margin of 20.34% and a return on equity of 10.98%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 EPS. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Zoom Video Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Scotiabank lifted their target price on Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday, May 16th. KeyCorp started coverage on Zoom Video Communications in a report on Friday, June 6th. They set an “underweight” rating and a $73.00 price target for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $87.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wayfinding Financial LLC acquired a new stake in shares of Zoom Video Communications in the first quarter worth approximately $25,000. SouthState Corp acquired a new position in shares of Zoom Video Communications in the 1st quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Zoom Video Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after buying an additional 246 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Company Profile

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.