Kelly Steckelberg Sells 14,151 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

by · The Markets Daily

Zoom Video Communications, Inc. (NASDAQ:ZM – Get Free Report) CFO Kelly Steckelberg sold 14,151 shares of Zoom Video Communications stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $68.12, for a total value of $963,966.12. Following the sale, the chief financial officer now directly owns 140,427 shares of the company’s stock, valued at $9,565,887.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Wednesday, October 2nd, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $67.79, for a total value of $603,398.79.
  • On Wednesday, September 18th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $66.47, for a total value of $591,649.47.
  • On Wednesday, September 4th, Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock. The shares were sold at an average price of $68.44, for a total value of $609,184.44.
  • On Wednesday, August 21st, Kelly Steckelberg sold 5,013 shares of Zoom Video Communications stock. The shares were sold at an average price of $59.70, for a total value of $299,276.10.
  • On Wednesday, August 7th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $56.64, for a total value of $283,596.48.
  • On Wednesday, July 24th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $58.64, for a total value of $293,610.48.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded up $0.88 during trading hours on Thursday, hitting $70.85. The company’s stock had a trading volume of 4,965,073 shares, compared to its average volume of 3,299,048. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $74.77. The firm has a fifty day moving average of $65.14 and a 200-day moving average of $62.42. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 5.92 and a beta of -0.04.

Zoom Video Communications (NASDAQ:ZM – Get Free Report) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Zoom Video Communications’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Zoom Video Communications, Inc. will post 2.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds have recently bought and sold shares of the company. Axiom Advisory LLC increased its holdings in Zoom Video Communications by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 11,712 shares of the company’s stock worth $817,000 after purchasing an additional 183 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in Zoom Video Communications by 0.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 23,189 shares of the company’s stock worth $1,370,000 after purchasing an additional 189 shares during the period. Cantor Fitzgerald L. P. increased its holdings in Zoom Video Communications by 2.7% during the 4th quarter. Cantor Fitzgerald L. P. now owns 7,566 shares of the company’s stock worth $544,000 after purchasing an additional 197 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Zoom Video Communications by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock worth $794,000 after purchasing an additional 223 shares during the period. Finally, Excalibur Management Corp increased its holdings in Zoom Video Communications by 5.6% during the 2nd quarter. Excalibur Management Corp now owns 4,344 shares of the company’s stock worth $257,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley dropped their price target on Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Bank of America lowered 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Thursday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.05.

Check Out Our Latest Analysis on ZM

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.

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