Zoom Communications, Inc. (NASDAQ:ZM) Director Sells $37,500.00 in Stock

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Herbert Raymond Mcmaster sold 500 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the director directly owned 10,901 shares of the company's stock, valued at $817,575. This represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Zoom Communications Trading Down 0.4%

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

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $1.35 earnings per share. The business's quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen raised Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Scotiabank raised their price target on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 16th. Bank of America raised their price target on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. KeyCorp began coverage on Zoom Communications in a report on Friday, June 6th. They issued an "underweight" rating and a $73.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Zoom Communications presently has a consensus rating of "Hold" and an average price target of $87.00.

Institutional Investors Weigh In On Zoom Communications

A number of institutional investors have recently modified their holdings of ZM. Vanguard Group Inc. boosted its holdings in Zoom Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. FMR LLC boosted its holdings in Zoom Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the period. Norges Bank purchased a new position in Zoom Communications in the fourth quarter valued at $751,908,000. AQR Capital Management LLC boosted its holdings in Zoom Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after purchasing an additional 373,509 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Zoom Communications by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after purchasing an additional 36,210 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.