Velchamy Sankarlingam Sells 3,272 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 3,272 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total transaction of $186,994.80. Following the completion of the sale, the insider now owns 82,792 shares of the company’s stock, valued at approximately $4,731,562.80. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, June 11th, Velchamy Sankarlingam sold 1,551 shares of Zoom Video Communications stock. The shares were sold at an average price of $62.99, for a total transaction of $97,697.49.
• On Sunday, June 9th, Velchamy Sankarlingam sold 3,589 shares of Zoom Video Communications stock. The stock was sold at an average price of $62.42, for a total transaction of $224,025.38.

Zoom Video Communications Price Performance

ZM stock opened at $56.60 on Friday. The company has a fifty day moving average price of $60.51 and a two-hundred day moving average price of $63.96. Zoom Video Communications, Inc. has a one year low of $55.63 and a one year high of $75.90. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 8.59 and a beta of -0.05.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ZM shares. Citigroup lifted their price objective on shares of Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, May 21st. Piper Sandler lowered their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley lowered their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.22.

Institutional Investors Weigh In On Zoom Video Communications

Institutional investors have recently modified their holdings of the business. Diversified Trust Co lifted its position in Zoom Video Communications by 45.8% during the third quarter. Diversified Trust Co now owns 11,687 shares of the company’s stock worth $817,000 after purchasing an additional 3,669 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Zoom Video Communications by 2.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 166,640 shares of the company’s stock worth $11,654,000 after acquiring an additional 4,514 shares in the last quarter. Vanguard Group Inc. raised its stake in Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after acquiring an additional 1,000,005 shares in the last quarter. FCF Advisors LLC acquired a new position in Zoom Video Communications during the fourth quarter worth about $941,000. Finally, Apella Capital LLC acquired a new position in Zoom Video Communications during the fourth quarter worth about $1,947,000. Institutional investors own 66.54% of the company’s stock.

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.