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

Zoom Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold 2,637 shares of Zoom Communications stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $96.63, for a total transaction of $254,813.31. Following the completion of the transaction, the director owned 124,423 shares in the company, valued at approximately $12,022,994.49. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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

Shares of ZM traded down $0.72 during trading hours on Thursday, hitting $95.46. 2,358,928 shares of the company were exchanged, compared to its average volume of 4,080,866. The company has a market capitalization of $27.85 billion, a PE ratio of 8.84, a PEG ratio of 4.46 and a beta of 1.04. The firm has a fifty day simple moving average of $96.51 and a 200-day simple moving average of $91.73. Zoom Communications, Inc. has a one year low of $70.70 and a one year high of $114.74.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. Zoom Communications’s revenue for the quarter was up 4.9% compared to the same quarter last year. 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. Sell-side analysts expect that Zoom Communications, Inc. will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in Zoom Communications by 8,620.6% in the 2nd quarter. California State Teachers Retirement System now owns 31,999,864 shares of the company’s stock worth $2,761,908,000 after buying an additional 31,632,917 shares in the last quarter. Norges Bank purchased a new position in shares of Zoom Communications during the 4th quarter valued at $509,788,000. AQR Capital Management LLC grew its holdings in shares of Zoom Communications by 43.9% during the 4th quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock valued at $1,052,328,000 after acquiring an additional 3,718,186 shares in the last quarter. Atreides Management LP acquired a new position in shares of Zoom Communications in the first quarter worth $105,761,000. Finally, Two Sigma Investments LP acquired a new position in shares of Zoom Communications in the third quarter worth $86,709,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ZM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Zoom Communications in a research note on Monday, August 24th. Bank of America initiated coverage on shares of Zoom Communications in a report on Wednesday, August 19th. They set a “buy” rating and a $130.00 price target on the stock. Citigroup upped their price target on shares of Zoom Communications from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 27th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a research note on Wednesday, August 26th. Sixteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.