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 Zoom Communications stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $95.81, for a total transaction of $248,147.90. Following the transaction, the insider directly owned 149,265 shares in the company, valued at $14,301,079.65. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $91.98, for a total transaction of $703,095.12.

Zoom Communications Trading Up 0.1%

Shares of ZM traded up $0.08 during trading hours on Friday, reaching $95.54. 2,245,273 shares of the stock traded hands, compared to its average volume of 4,070,317. The stock has a fifty day simple moving average of $96.67 and a 200 day simple moving average of $91.77. Zoom Communications, Inc. has a 52 week low of $70.70 and a 52 week high of $114.74. The company has a market cap of $27.88 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 4.45 and a beta of 1.04.

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. The business 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 firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior 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. Analysts predict that Zoom Communications, Inc. will post 4.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ZM. Bank of America initiated coverage on Zoom Communications in a research report on Wednesday, August 19th. They issued a “buy” rating and a $130.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Zoom Communications in a research report on Friday, August 21st. HSBC boosted their price target on shares of Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $104.00 price objective on shares of Zoom Communications in a report on Monday, August 24th. Finally, Jefferies Financial Group lowered their price objective on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Zoom Communications has an average rating of “Moderate Buy” and an average target price of $112.55.

Institutional Investors Weigh In On Zoom Communications

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in shares of Zoom Communications by 16.8% in the first quarter. NewEdge Advisors LLC now owns 8,009 shares of the company’s stock valued at $591,000 after purchasing an additional 1,153 shares during the period. Intech Investment Management LLC grew its stake in Zoom Communications by 59.1% in the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock valued at $1,238,000 after buying an additional 6,235 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Zoom Communications by 82.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock valued at $65,000 after buying an additional 397 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Zoom Communications during the second quarter worth $217,000. Finally, Invesco Ltd. boosted its holdings in shares of Zoom Communications by 7.0% in the second quarter. Invesco Ltd. now owns 730,207 shares of the company’s stock worth $56,942,000 after acquiring an additional 47,749 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

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.