Zoom Stock – Insider Selling: Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells 189 Shares of Stock
Zoom Video Communications, Inc. (NASDAQ:ZM) Director Kimberly Hammonds sold 189 shares of the business’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $350.00, for a total value of $66,150.00. Following the transaction, the director now owns 189 shares of the company’s stock, valued at $66,150. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
NASDAQ:ZM traded up $12.87 during midday trading on Thursday, hitting $346.50. 2,791,396 shares of the company traded hands, compared to its average volume of 4,444,833. The firm has a fifty day moving average price of $321.51. Zoom Video Communications, Inc. has a 12-month low of $216.75 and a 12-month high of $588.84. The stock has a market cap of $101.77 billion, a price-to-earnings ratio of 154.00, a P/E/G ratio of 10.01 and a beta of -1.49.
Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, May 31st. The company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.33. Zoom Video Communications had a return on equity of 37.79% and a net margin of 25.34%. The company had revenue of $956.24 million for the quarter, compared to analyst estimates of $908.17 million. During the same quarter in the prior year, the firm posted $0.20 EPS. Zoom Video Communications’s quarterly revenue was up 191.4% compared to the same quarter last year. As a group, equities research analysts expect that Zoom Video Communications, Inc. will post 2.22 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the business. Gateway Investment Advisers LLC increased its stake in 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 purchasing an additional 4,502 shares during the period. Worldquant Millennium Advisors LLC increased its stake in 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 purchasing an additional 54,730 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in 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 purchasing an additional 34,153 shares during the period. Maryland State Retirement & Pension System bought a new position in shares of Zoom Video Communications during the 4th quarter worth $1,056,000. Finally, Beck Bode LLC bought a new position in shares of Zoom Video Communications during the 1st quarter worth $11,956,000. Institutional investors and hedge funds own 42.43% of the company’s stock.
A number of research analysts recently issued reports on ZM shares. Bank of America started coverage on Zoom Video Communications in a research note on Tuesday, April 20th. They set a “buy” rating for the company. DA Davidson reiterated a “buy” rating on shares of Zoom Video Communications in a research note on Wednesday, May 5th. JPMorgan Chase & Co. boosted their price objective on Zoom Video Communications from $385.00 to $456.00 and gave the company a “neutral” rating in a research note on Wednesday, June 2nd. Royal Bank of Canada cut their price objective on Zoom Video Communications from $550.00 to $480.00 and set an “outperform” rating for the company in a research note on Friday, May 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Zoom Video Communications from $362.00 to $380.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $426.19.
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.
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7 Hotel Stocks Just Waiting For the Vaccine
Like any group of stocks related to travel and tourism, hotel stocks saw a steep drop in share prices in 2020. The leisure and hospitality sector that once had 15 million employees has lost 4 million jobs since February.
Many major cities will be feeling the ripple effects of the Covid-19 pandemic for years. However, there is ample evidence that shows the pandemic may be coming to an end. The number of new cases is dropping. The number of those getting vaccinated is rising. And even in the cities with the most restrictive mitigation measures, the slow process of reopening is beginning.
All of this can’t come fast enough for individuals who rely on the travel and tourism industry for their livelihood. Hotel chains had at least some revenue coming in the door. And when earnings season concludes, the more budget-friendly hotel chains may realize revenue that is 75% of its 2019 numbers. But that is not enough to bring the hotels to anywhere near full employment. Particularly with hotels that have bars and restaurants that have remained closed or open at limited capacity.
Many economists are optimistic that travel may begin to look more normal by the summer of this year. And the global economy may deliver 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position as the economy reopens.
View the “7 Hotel Stocks Just Waiting For the Vaccine”.