Jonathan Chadwick Sells 12,500 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $68.36, for a total transaction of $854,500.00. Following the completion of the transaction, the director now owns 1,514 shares in the company, valued at approximately $103,497.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.51 during trading on Wednesday, reaching $68.93. The company’s stock had a trading volume of 1,954,029 shares, compared to its average volume of 3,289,664. The firm has a fifty day moving average of $66.11 and a 200 day moving average of $62.49. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77. The stock has a market capitalization of $21.22 billion, a PE ratio of 24.52, a P/E/G ratio of 5.85 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. Zoom Video Communications’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. Research analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Institutional Trading of Zoom Video Communications

Several institutional investors and hedge funds have recently made changes to their positions in ZM. Vanguard Group Inc. increased its stake in Zoom Video Communications by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after acquiring an additional 721,923 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Zoom Video Communications by 17.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 204,607 shares of the company’s stock valued at $13,375,000 after purchasing an additional 30,902 shares during the last quarter. Perpetual Ltd purchased a new position in shares of Zoom Video Communications during the 1st quarter valued at about $657,000. Polianta Ltd bought a new stake in Zoom Video Communications in the 1st quarter worth approximately $1,183,000. Finally, Banque Cantonale Vaudoise boosted its stake in Zoom Video Communications by 255.1% in the first quarter. Banque Cantonale Vaudoise now owns 3,597 shares of the company’s stock worth $235,000 after buying an additional 2,584 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ZM shares. Bank of America dropped their price objective on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Benchmark boosted their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird cut their target price on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $75.05.

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.