Insider Selling: 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 firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $93.74, for a total value of $247,192.38. Following the completion of the transaction, the director owned 121,786 shares in the company, valued at approximately $11,416,219.64. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Santiago Subotovsky sold 2,637 shares of Zoom Communications stock. The shares were sold at an average price of $96.63, for a total value of $254,813.31.
• 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.

Zoom Communications Stock Up 0.6%

NASDAQ:ZM traded up $0.59 on Wednesday, hitting $94.79. The stock had a trading volume of 2,342,017 shares, compared to its average volume of 3,962,793. The business’s 50-day simple moving average is $97.59 and its two-hundred day simple moving average is $93.59. The stock has a market cap of $27.66 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 4.32 and a beta of 1.03. Zoom Communications, Inc. has a 52-week low of $70.70 and a 52-week high of $114.74.

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, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 EPS. 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. As a group, equities research analysts anticipate that Zoom Communications, Inc. will post 4.27 EPS for the current year.

Institutional Investors Weigh In On Zoom Communications

Several large investors have recently modified their holdings of the business. Atreides Management LP acquired a new position in shares of Zoom Communications in the 1st quarter valued at $105,761,000. Rubric Capital Management LP purchased a new stake in shares of Zoom Communications in the 1st quarter valued at $80,471,000. Bank of America Corp DE increased its stake in shares of Zoom Communications by 50.5% in the first quarter. Bank of America Corp DE now owns 1,767,728 shares of the company’s stock worth $142,108,000 after acquiring an additional 592,899 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Zoom Communications during the second quarter worth $43,925,000. Finally, KBC Group NV lifted its position in Zoom Communications by 69.1% during the first quarter. KBC Group NV now owns 1,193,027 shares of the company’s stock valued at $95,907,000 after purchasing an additional 487,384 shares during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $108.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $104.00 price target on shares of Zoom Communications in a research note on Monday, August 24th. Morgan Stanley increased their price objective on shares of Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, August 26th. Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th. Finally, Jefferies Financial Group dropped their price objective on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Fourteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Zoom Communications has a consensus rating of “Moderate Buy” and a consensus price target of $113.62.

About Zoom Communications

Zoom Communications, Inc (NASDAQ:ZM), formerly known as Zoom Video Communications, is a cloud-based communications and collaboration technology company. Its platform enables organizations and individuals to connect through video meetings, voice communications, messaging, webinars and other digital collaboration tools.

The company’s Zoom Workplace platform includes products such as Zoom Meetings, Zoom Phone, Team Chat, Whiteboard and Zoom Rooms. Zoom also provides Zoom Contact Center, Zoom Events and other tools designed to support customer engagement, employee collaboration and hybrid work.