Zoom Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky Sells 2,475 Shares

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $77.17, for a total transaction of $190,995.75. Following the completion of the sale, the director directly owned 157,235 shares in the company, valued at $12,133,824.95. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Santiago Subotovsky also recently made the following trade(s):

• On Tuesday, June 3rd, Santiago Subotovsky sold 2,475 shares of Zoom Communications stock. The stock was sold at an average price of $80.67, for a total value of $199,658.25.
• On Monday, May 5th, Santiago Subotovsky sold 2,475 shares of Zoom Communications stock. The stock was sold at an average price of $78.82, for a total value of $195,079.50.
• On Thursday, April 24th, Santiago Subotovsky sold 2,475 shares of Zoom Communications stock. The stock was sold at an average price of $75.43, for a total transaction of $186,689.25.

Zoom Communications Trading Down 1.8%

NASDAQ:ZM traded down $1.41 during midday trading on Monday, hitting $77.17. 3,406,717 shares of the stock were exchanged, compared to its average volume of 2,907,996. Zoom Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 12.87 and a beta of 0.68. The business has a 50-day moving average price of $79.40 and a two-hundred day moving average price of $78.63.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the company earned $1.35 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wayfinding Financial LLC purchased a new stake in shares of Zoom Communications in the first quarter worth approximately $25,000. SouthState Corp purchased a new position in shares of Zoom Communications during the 1st quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Zoom Communications during the 4th quarter valued at $30,000. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Zoom Communications during the 1st quarter valued at $31,000. Institutional investors own 66.54% of the company's stock.

Analyst Ratings Changes

ZM has been the subject of a number of recent research reports. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Citigroup cut their target price on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Royal Bank Of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd. Needham & Company LLC raised shares of Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price on the stock in a report on Thursday, May 22nd. Finally, KeyCorp initiated coverage on shares of Zoom Communications in a report on Friday, June 6th. They issued an "underweight" rating and a $73.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Zoom Communications currently has a consensus rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Company Profile

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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