Zoom Communications (NASDAQ:ZM) Insider Velchamy Sankarlingam Sells 2,590 Shares of Stock

Zoom Communications, Inc. (NASDAQ:ZM) insider Velchamy Sankarlingam sold 2,590 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $95.81, for a total value of $248,147.90. Following the sale, the insider owned 149,265 shares in the company, valued at approximately $14,301,079.65. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 value of $703,095.12.

Zoom Communications Stock Up 0.1%

ZM traded up $0.08 during trading on Friday, hitting $95.54. The company’s stock had a trading volume of 2,245,273 shares, compared to its average volume of 4,070,317. Zoom Communications, Inc. has a twelve month low of $70.70 and a twelve month high of $114.74. The stock’s fifty day moving average price is $96.67 and its 200-day moving average price is $91.77. The firm has a market capitalization of $27.88 billion, a P/E ratio of 8.85, a PEG ratio of 4.45 and a beta of 1.04.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. 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 expect that Zoom Communications, Inc. will post 4.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZM has been the subject of several research analyst reports. Citigroup lifted their price target on shares of Zoom Communications from $122.00 to $126.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Mizuho raised their target price on Zoom Communications from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $108.00 target price on shares of Zoom Communications in a research report on Wednesday, August 26th. Robert W. Baird upped their price target on Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley boosted their price objective on Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.55.

Institutional Investors Weigh In On Zoom Communications

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

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.