Zoom Communications, Inc. (NASDAQ:ZM) COO Aparna Bawa Sells 10,528 Shares

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) COO Aparna Bawa sold 10,528 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This trade represents a 84.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zoom Communications Stock Down 0.4%

Shares of ZM traded down $0.29 during trading hours on Wednesday, hitting $74.44. 3,259,117 shares of the company were exchanged, compared to its average volume of 2,908,948. The company has a market cap of $22.52 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 12.24 and a beta of 0.68. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm's fifty day moving average is $79.12 and its 200 day moving average is $78.27.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Benchmark reaffirmed a "buy" rating and set a $97.00 price target on shares of Zoom Communications in a research report on Tuesday, May 20th. Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target for the company in a research report on Thursday, May 22nd. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. KeyCorp began coverage on Zoom Communications in a research note on Friday, June 6th. They set an "underweight" rating and a $73.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price objective on shares of Zoom Communications in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $87.00.

Institutional Trading of Zoom Communications

Several large investors have recently modified their holdings of the stock. Yousif Capital Management LLC boosted its stake in Zoom Communications by 31.9% in the first quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after buying an additional 1,076 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Zoom Communications by 18.5% in the first quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock valued at $12,977,000 after buying an additional 27,430 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Zoom Communications by 15.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock valued at $880,000 after buying an additional 1,601 shares in the last quarter. Spire Wealth Management boosted its stake in Zoom Communications by 990.6% in the first quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after buying an additional 1,268 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Zoom Communications by 0.7% in the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock valued at $1,792,000 after buying an additional 171 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

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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