Zoom Communications (NASDAQ:ZM) Insider Sells $758,842.70 in Stock

Zoom Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 7,645 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $99.26, for a total transaction of $758,842.70. Following the completion of the transaction, the insider owned 151,813 shares in the company, valued at approximately $15,068,958.38. This trade represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, September 10th, Velchamy Sankarlingam sold 2,590 shares of Zoom Communications stock. The shares were sold at an average price of $95.81, for a total transaction of $248,147.90.
• On Wednesday, July 15th, Velchamy Sankarlingam sold 7,644 shares of Zoom Communications stock. The stock was sold at an average price of $91.98, for a total transaction of $703,095.12.

Zoom Communications Stock Up 4.3%

Shares of ZM stock opened at $98.51 on Friday. The firm has a 50 day moving average price of $97.45 and a two-hundred day moving average price of $94.53. The company has a market capitalization of $28.74 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 4.36 and a beta of 1.03. Zoom Communications, Inc. has a 12-month low of $70.70 and a 12-month high of $114.74.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The business’s 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. As a group, research analysts expect that Zoom Communications, Inc. will post 4.27 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZM. Jefferies Financial Group reduced their price target on Zoom Communications from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $108.00 price objective on shares of Zoom Communications in a report on Wednesday, August 26th. BTIG Research reiterated a “buy” rating and set a $125.00 price objective on shares of Zoom Communications in a research report on Monday, August 24th. KeyCorp reiterated a “sector weight” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Finally, UBS Group lifted their target price on Zoom Communications from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

Hedge Funds Weigh In On Zoom Communications

Several hedge funds have recently bought and sold shares of ZM. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Zoom Communications by 133.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Rexford Capital Inc. lifted its holdings in shares of Zoom Communications by 45.7% during the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after acquiring an additional 122 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Zoom Communications by 100.4% during the 1st quarter. V Square Quantitative Management LLC now owns 505 shares of the company’s stock worth $41,000 after acquiring an additional 253 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Zoom Communications by 400.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 500 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the period. Finally, Elevation Wealth Partners LLC boosted its position in shares of Zoom Communications by 133.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 477 shares of the company’s stock worth $43,000 after acquiring an additional 273 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Zoom Communications Company Profile

Zoom Communications, Inc (NASDAQ:ZM), formerly known as Zoom Video Communications, is a cloud-based communications and collaboration technology company. Its platform enables organizations and individuals to connect through video meetings, voice communications, messaging, webinars and other digital collaboration tools.

The company’s Zoom Workplace platform includes products such as Zoom Meetings, Zoom Phone, Team Chat, Whiteboard and Zoom Rooms. Zoom also provides Zoom Contact Center, Zoom Events and other tools designed to support customer engagement, employee collaboration and hybrid work.