Zoom Communications (NASDAQ:ZM) Director Sells 2,637 Shares of Stock

Zoom Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,637 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $96.63, for a total value of $254,813.31. Following the completion of the transaction, the director directly owned 124,423 shares in the company, valued at approximately $12,022,994.49. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 4th, Santiago Subotovsky sold 7,911 shares of Zoom Communications stock. The shares were sold at an average price of $101.33, for a total value of $801,621.63.
• On Wednesday, July 1st, Santiago Subotovsky sold 2,637 shares of Zoom Communications stock. The shares were sold at an average price of $90.15, for a total value of $237,725.55.

Zoom Communications Price Performance

NASDAQ:ZM traded down $0.72 during mid-day trading on Thursday, reaching $95.46. The stock had a trading volume of 2,358,928 shares, compared to its average volume of 4,080,866. The business’s 50 day moving average is $96.51 and its 200 day moving average is $91.73. Zoom Communications, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $114.74. The stock has a market cap of $27.85 billion, a P/E ratio of 8.84, a PEG ratio of 4.46 and a beta of 1.04.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. Equities analysts expect that Zoom Communications, Inc. will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in Zoom Communications by 8,620.6% during the second quarter. California State Teachers Retirement System now owns 31,999,864 shares of the company’s stock valued at $2,761,908,000 after acquiring an additional 31,632,917 shares during the period. AQR Capital Management LLC increased its stake in shares of Zoom Communications by 43.9% in the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock worth $1,052,328,000 after purchasing an additional 3,718,186 shares during the period. State Street Corp increased its stake in shares of Zoom Communications by 5.0% in the fourth quarter. State Street Corp now owns 7,582,924 shares of the company’s stock worth $654,331,000 after purchasing an additional 363,776 shares during the period. Norges Bank acquired a new position in shares of Zoom Communications during the 4th quarter worth about $509,788,000. Finally, Geode Capital Management LLC lifted its position in shares of Zoom Communications by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company’s stock worth $445,254,000 after purchasing an additional 152,862 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $125.00 price objective on shares of Zoom Communications in a report on Monday, August 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Zoom Communications in a research report on Monday, August 24th. Sanford C. Bernstein reiterated a “market perform” rating and set a $108.00 price target on shares of Zoom Communications in a research note on Wednesday, August 26th. Wells Fargo & Company increased their price objective on Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Zoom Communications in a research note on Friday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.55.

Zoom Communications Company Profile

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.

Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.