Shane Crehan Sells 2,493 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CAO Shane Crehan sold 2,493 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $58.26, for a total value of $145,242.18. Following the completion of the transaction, the chief accounting officer now directly owns 2,367 shares in the company, valued at $137,901.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shane Crehan also recently made the following trade(s):

• On Thursday, June 13th, Shane Crehan sold 363 shares of Zoom Video Communications stock. The stock was sold at an average price of $60.25, for a total value of $21,870.75.
• On Tuesday, June 11th, Shane Crehan sold 1,475 shares of Zoom Video Communications stock. The stock was sold at an average price of $62.99, for a total value of $92,910.25.
• On Sunday, June 9th, Shane Crehan sold 1,538 shares of Zoom Video Communications stock. The stock was sold at an average price of $62.42, for a total value of $96,001.96.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $56.00 on Thursday. The stock’s fifty day moving average is $60.63 and its 200 day moving average is $64.01. Zoom Video Communications, Inc. has a fifty-two week low of $55.63 and a fifty-two week high of $75.90. The firm has a market capitalization of $17.32 billion, a PE ratio of 20.90, a PEG ratio of 8.81 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, May 20th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.23. Zoom Video Communications had a return on equity of 10.55% and a net margin of 18.37%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Equities analysts forecast that Zoom Video Communications, Inc. will post 2.43 EPS for the current year.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Zoom Video Communications during the 4th quarter worth $164,224,000. Acadian Asset Management LLC grew its position in shares of Zoom Video Communications by 54.8% during the 1st quarter. Acadian Asset Management LLC now owns 3,046,718 shares of the company’s stock worth $199,146,000 after buying an additional 1,078,937 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after buying an additional 1,000,005 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after buying an additional 781,663 shares in the last quarter. Finally, Retirement Systems of Alabama bought a new position in shares of Zoom Video Communications during the 1st quarter worth $42,289,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ZM shares. Piper Sandler lowered their price objective on Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Zoom Video Communications from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, June 21st. Jefferies Financial Group started coverage on 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. Robert W. Baird lowered their price objective on Zoom Video Communications from $90.00 to $84.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Finally, Sanford C. Bernstein lowered their price objective on Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.22.

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.