Jonathan Chadwick Sells 25,000 Shares of Zoom Communications, Inc. (NASDAQ:ZM) Stock

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the transaction, the director owned 5,875 shares of the company's stock, valued at approximately $439,802.50. This trade represents a 80.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Zoom Communications Trading Down 0.4%

Shares of ZM stock traded down $0.29 on Wednesday, reaching $74.44. The company's stock had a trading volume of 3,259,117 shares, compared to its average volume of 2,908,948. The stock's fifty day simple moving average is $79.12 and its 200-day simple moving average is $78.27. Zoom Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 12.24 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the company posted $1.35 EPS. The business's revenue was up 2.9% on a year-over-year basis. Equities research analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ZM shares. Morgan Stanley upped their price target on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Benchmark reiterated a "buy" rating and issued a $97.00 price target on shares of Zoom Communications in a research note on Tuesday, May 20th. JPMorgan Chase & Co. raised their price target on Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Scotiabank upped their price objective on Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $87.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZM. Signaturefd LLC raised its position in Zoom Communications by 41.8% during the second quarter. Signaturefd LLC now owns 3,967 shares of the company's stock valued at $309,000 after purchasing an additional 1,169 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Zoom Communications by 2.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 10,922 shares of the company's stock worth $852,000 after purchasing an additional 236 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Zoom Communications by 0.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 87,389 shares of the company's stock valued at $6,815,000 after purchasing an additional 414 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in Zoom Communications during the 2nd quarter valued at $200,000. Finally, Accurate Wealth Management LLC raised its holdings in Zoom Communications by 12.4% during the 2nd quarter. Accurate Wealth Management LLC now owns 44,939 shares of the company's stock valued at $3,373,000 after buying an additional 4,970 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

About Zoom Communications

Zoom Video Communications, Inc provides unified 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; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

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