Santiago Subotovsky Sells 2,637 Shares of Zoom Communications (NASDAQ:ZM) Stock

Zoom Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,637 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $96.63, for a total value of $254,813.31. Following the transaction, the director owned 124,423 shares in the company, valued at approximately $12,022,994.49. This trade represents a 2.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Santiago Subotovsky also recently made the following trade(s):

• On Tuesday, August 4th, Santiago Subotovsky sold 7,911 shares of Zoom Communications stock. The stock was sold at an average price of $101.33, for a total transaction of $801,621.63.
• On Wednesday, July 1st, Santiago Subotovsky sold 2,637 shares of Zoom Communications stock. The stock was sold at an average price of $90.15, for a total transaction of $237,725.55.

Zoom Communications Trading Up 0.1%

NASDAQ ZM opened at $95.57 on Friday. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The company has a fifty day simple moving average of $96.84 and a 200 day simple moving average of $91.80. The company has a market cap of $27.89 billion, a P/E ratio of 8.85, a P/E/G ratio of 4.42 and a beta of 1.04.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $1.53 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. Equities research analysts forecast that Zoom Communications, Inc. will post 4.26 EPS for the current fiscal year.

Institutional Trading of Zoom Communications

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in shares of Zoom Communications by 39.4% in the second quarter. Sequoia Financial Advisors LLC now owns 14,246 shares of the company’s stock valued at $1,230,000 after purchasing an additional 4,026 shares in the last quarter. Tidal Investments LLC boosted its stake in Zoom Communications by 251.2% during the second quarter. Tidal Investments LLC now owns 123,450 shares of the company’s stock worth $10,655,000 after buying an additional 88,303 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in Zoom Communications in the 2nd quarter valued at $43,925,000. WINTON GROUP Ltd bought a new stake in Zoom Communications in the 2nd quarter valued at $6,667,000. Finally, Engineers Gate Manager LP increased its holdings in Zoom Communications by 153.0% in the 2nd quarter. Engineers Gate Manager LP now owns 57,286 shares of the company’s stock valued at $4,944,000 after buying an additional 34,646 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZM. Bank of America started coverage on Zoom Communications in a report on Wednesday, August 19th. They issued a “buy” rating and a $130.00 target price on the stock. Jefferies Financial Group cut their price target on Zoom Communications from $118.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, August 26th. Weiss Ratings upgraded shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 27th. Robert W. Baird boosted their target price on shares of Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Finally, HSBC increased their price target on shares of Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.55.

Zoom Communications Company Profile

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.

Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.