Zoom Communications, Inc. (NASDAQ:ZM) Insider Sells $593,727.50 in Stock

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) insider Velchamy Sankarlingam sold 7,661 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the transaction, the insider directly owned 129,377 shares in the company, valued at $10,026,717.50. The trade was a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, June 10th, Velchamy Sankarlingam sold 2,595 shares of Zoom Communications stock. The shares were sold at an average price of $80.26, for a total value of $208,274.70.
• On Tuesday, April 15th, Velchamy Sankarlingam sold 11,839 shares of Zoom Communications stock. The shares were sold at an average price of $71.91, for a total value of $851,342.49.

Zoom Communications Stock Down 2.2%

Zoom Communications stock traded down $1.65 during trading hours on Friday, reaching $73.40. 4,070,709 shares of the company's stock were exchanged, compared to its average volume of 2,908,799. The firm's 50 day simple moving average is $79.35 and its 200 day simple moving average is $78.54. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market capitalization of $22.21 billion, a PE ratio of 22.04, a PEG ratio of 12.68 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly 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 net margin of 22.31% and a return on equity of 11.08%. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the firm earned $1.35 EPS. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZM. Vanguard Group Inc. grew its position in shares of Zoom Communications by 2.6% during the 1st 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 in the last quarter. FMR LLC grew its position in Zoom Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after acquiring an additional 282,645 shares in the last quarter. Norges Bank purchased a new position in Zoom Communications in the fourth quarter worth $751,908,000. AQR Capital Management LLC grew its position 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 worth $615,237,000 after acquiring an additional 373,509 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position 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 worth $473,732,000 after acquiring an additional 36,210 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ZM shares. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Wells Fargo & Company raised their target price on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. KeyCorp assumed coverage on Zoom Communications in a report on Friday, June 6th. They issued an "underweight" rating and a $73.00 target price on the stock. Needham & Company LLC upgraded Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target for the company in a research note on Thursday, May 22nd. Finally, Morgan Stanley increased their price target on Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research note 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.