Zoom Communications (NASDAQ:ZM) Director Sells $199,930.50 in Stock

Key Points

• Zoom Communications Director Santiago Subotovsky sold 2,475 shares of the company's stock for approximately $199,930.50, marking a 1.60% decrease in his holdings.
• The stock price of Zoom Communications is currently around $79.85 with a recent trading volume lower than its average; the company has a market capitalization of $24.16 billion.
• Analysts have mixed views on Zoom's stock, with an average target price of $91.74, while two analysts rate it as a Strong Buy and others indicate a Hold or Sell rating.

Zoom Communications, Inc. (NASDAQ:ZM - Get Free Report) Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $80.78, for a total transaction of $199,930.50. Following the sale, the director directly owned 152,644 shares in the company, valued at $12,330,582.32. The trade was a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, September 5th, Santiago Subotovsky sold 2,475 shares of Zoom Communications stock. The shares were sold at an average price of $83.40, for a total transaction of $206,415.00.
• On Tuesday, August 26th, Santiago Subotovsky sold 2,475 shares of Zoom Communications stock. The shares were sold at an average price of $79.65, for a total transaction of $197,133.75.

Zoom Communications Stock Up 0.5%

NASDAQ:ZM traded up $0.36 during midday trading on Wednesday, hitting $79.85. The company had a trading volume of 2,469,588 shares, compared to its average volume of 2,825,342. Zoom Communications, Inc. has a 52-week low of $64.41 and a 52-week high of $92.80. The stock's fifty day moving average price is $79.43 and its 200-day moving average price is $77.62. The company has a market capitalization of $24.16 billion, a PE ratio of 21.07, a P/E/G ratio of 10.97 and a beta of 0.78.

Hedge Funds Weigh In On Zoom Communications

A number of large investors have recently made changes to their positions in ZM. Norges Bank acquired a new position in shares of Zoom Communications in the 2nd quarter valued at about $539,998,000. Acadian Asset Management LLC increased its stake in shares of Zoom Communications by 41.1% during the 2nd quarter. Acadian Asset Management LLC now owns 3,769,480 shares of the company's stock worth $293,909,000 after purchasing an additional 1,097,333 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Zoom Communications by 63.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,137,093 shares of the company's stock worth $166,651,000 after purchasing an additional 830,393 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Zoom Communications by 119.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock worth $103,670,000 after purchasing an additional 765,092 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Zoom Communications by 168.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,025,274 shares of the company's stock worth $84,585,000 after purchasing an additional 643,074 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Analysts Set New Price Targets

ZM has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Needham & Company LLC restated a "buy" rating and issued a $100.00 target price on shares of Zoom Communications in a report on Thursday, September 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Zoom Communications in a research report on Saturday, September 27th. Robert W. Baird decreased their price objective on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Zoom Communications from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Zoom Communications presently has an average rating of "Hold" and an average target price of $91.74.

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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