Velchamy Sankarlingam Sells 2,590 Shares of Zoom Communications (NASDAQ:ZM) Stock

by · The Cerbat Gem

Zoom Communications, Inc. (NASDAQ:ZM – Get Free Report) insider Velchamy Sankarlingam sold 2,590 shares of Zoom Communications stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $95.81, for a total transaction of $248,147.90. Following the completion of the transaction, the insider directly owned 149,265 shares in the company, valued at $14,301,079.65. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Velchamy Sankarlingam also recently made the following trade(s):

  • On Wednesday, July 15th, Velchamy Sankarlingam sold 7,644 shares of Zoom Communications stock. The stock was sold at an average price of $91.98, for a total transaction of $703,095.12.

Zoom Communications Stock Performance

NASDAQ ZM opened at $95.57 on Friday. The firm has a market cap of $27.89 billion, a PE ratio of 8.85, a P/E/G ratio of 4.42 and a beta of 1.04. Zoom Communications, Inc. has a one year low of $70.70 and a one year high of $114.74. The firm’s fifty day moving average is $96.84 and its two-hundred day moving average is $91.80.

Zoom Communications (NASDAQ:ZM – Get Free Report) last announced its earnings results 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. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. The business’s quarterly revenue 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. Research analysts predict that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.

Institutional Trading of Zoom Communications

A number of institutional investors have recently modified their holdings of ZM. Advocate Investing Services LLC purchased a new position in Zoom Communications in the fourth quarter worth $26,000. Strive Financial Group LLC acquired a new position in shares of Zoom Communications during the 4th quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Zoom Communications by 133.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Rexford Capital Inc. increased its holdings in shares of Zoom Communications by 45.7% in the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after purchasing an additional 122 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Zoom Communications by 83.3% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of recent research reports. HSBC increased their price objective on Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Robert W. Baird upped their price target on Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Morgan Stanley increased their price target on Zoom Communications from $105.00 to $107.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 26th. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Finally, Mizuho boosted their price objective on shares of Zoom Communications from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Sixteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.55.

Read Our Latest Stock Report on ZM

About Zoom Communications

(Get Free Report)

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.

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