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 stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the sale, the insider directly owned 129,377 shares in the company, valued at $10,026,717.50. This represents a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 Performance

Shares of ZM stock traded down $1.65 during mid-day trading on Friday, hitting $73.40. The company's stock had a trading volume of 4,071,362 shares, compared to its average volume of 2,904,253. The company's fifty day simple moving average is $79.26 and its 200-day simple moving average is $78.36. Zoom Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market cap of $22.21 billion, a PE ratio of 22.04, a P/E/G ratio of 12.02 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $1.35 EPS. The business's quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup reduced their target price on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Piper Sandler raised their price objective on Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Scotiabank raised their price objective on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 16th. Royal Bank Of Canada reissued an "outperform" rating and set a $95.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Wells Fargo & Company raised their price objective on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $87.00.

Institutional Trading of Zoom Communications

Several large investors have recently made changes to their positions in ZM. Wayfinding Financial LLC acquired a new position in Zoom Communications during the 1st quarter valued at about $25,000. SouthState Corp acquired a new position in Zoom Communications during the 1st quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB boosted its stake in 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 purchasing an additional 246 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Zoom Communications during the 4th quarter valued at about $30,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Zoom Communications during the 1st quarter valued at about $31,000. 66.54% of the stock is currently 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.