Zoom Stock – Bart Swanson Sells 2,000 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM) Stock
Zoom Video Communications, Inc. (NASDAQ:ZM) Director Bart Swanson sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $320.00, for a total transaction of $640,000.00. Following the completion of the sale, the director now directly owns 21,481 shares of the company’s stock, valued at $6,873,920. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Zoom Video Communications stock traded up $6.66 during mid-day trading on Monday, reaching $342.66. 4,482,802 shares of the company traded hands, compared to its average volume of 4,490,788. Zoom Video Communications, Inc. has a fifty-two week low of $198.66 and a fifty-two week high of $588.84. The firm has a market capitalization of $100.64 billion, a P/E ratio of 152.29, a price-to-earnings-growth ratio of 10.01 and a beta of -1.49. The company has a fifty day moving average price of $320.30.
Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, May 31st. The company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.33. The firm had revenue of $956.24 million for the quarter, compared to analyst estimates of $908.17 million. Zoom Video Communications had a net margin of 25.34% and a return on equity of 37.79%. The business’s quarterly revenue was up 191.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. Analysts forecast that Zoom Video Communications, Inc. will post 2.22 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC increased its stake in shares of Zoom Video Communications by 181.8% in the first quarter. Gateway Investment Advisers LLC now owns 6,978 shares of the company’s stock worth $2,242,000 after acquiring an additional 4,502 shares during the period. Worldquant Millennium Advisors LLC increased its stake in shares of Zoom Video Communications by 408.2% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 68,137 shares of the company’s stock worth $22,984,000 after acquiring an additional 54,730 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of Zoom Video Communications by 42.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 115,235 shares of the company’s stock worth $38,870,000 after acquiring an additional 34,153 shares during the period. Maryland State Retirement & Pension System acquired a new stake in shares of Zoom Video Communications in the fourth quarter worth $1,056,000. Finally, Beck Bode LLC acquired a new stake in shares of Zoom Video Communications in the first quarter worth $11,956,000. Hedge funds and other institutional investors own 42.43% of the company’s stock.
ZM has been the subject of several research reports. Rosenblatt Securities boosted their price objective on shares of Zoom Video Communications from $350.00 to $400.00 and gave the company a “neutral” rating in a research report on Tuesday, March 2nd. Mizuho lowered their price target on shares of Zoom Video Communications from $550.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, May 14th. BTIG Research lowered their price target on shares of Zoom Video Communications from $550.00 to $495.00 and set a “buy” rating for the company in a research report on Wednesday, June 2nd. They noted that the move was a valuation call. UBS Group upped their price target on shares of Zoom Video Communications from $325.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 2nd. They noted that the move was a valuation call. Finally, Bank of America initiated coverage on shares of Zoom Video Communications in a research report on Tuesday, April 20th. They issued a “buy” rating for the company. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $425.65.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc provides a video-first 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
Read More: Technical Analysis of Stocks, How Can It Help
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is a management fee?
7 Bellwether Stocks Signaling a Return to Normal
Bellwether stocks are considered to be leading indicators about the direction of the overall economy, a specific sector, or the broader market. They are predictive stocks in that investors can use the company’s earnings reports to gauge economic strength or weakness.
The traditional definition of bellwether stocks brings to mind established, blue-chip companies. They are the home of mature brands with consumer loyalty. These may be stocks that aren’t associated with exceptional growth; some may be dividend stocks.
But there’s something different about normal this time around. If it’s true (and I think it is) that the old rules no longer apply, investors need to change the way they think about bellwether stocks. Plus, let’s face it, many stocks that we might consider to be bellwether stocks have already had a bit of a vaccine rally. That means that the easy gains are gone.
With that in mind, we’ve put together this special presentation that highlights seven of what may be termed the new bellwether stocks. These are stocks that investors should be paying attention to as the economy continues to reopen.
One quality of many of these stocks is that they are either negative for 2021 or underperforming the broader market. And that means that they are likely to have a strong upside as the economy grows.
View the “7 Bellwether Stocks Signaling a Return to Normal”.