Insider Selling: Zoom Communications (NASDAQ:ZM) CFO Sells $844,315.94 in Stock

Zoom Communications, Inc. (NASDAQ:ZM) CFO Michelle Chang sold 8,489 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $99.46, for a total transaction of $844,315.94. Following the completion of the transaction, the chief financial officer owned 40,438 shares of the company’s stock, valued at approximately $4,021,963.48. The trade was a 17.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

Zoom Communications Stock Up 0.2%

Shares of ZM stock traded up $0.22 during trading hours on Tuesday, reaching $98.16. 2,596,338 shares of the stock traded hands, compared to its average volume of 2,942,318. Zoom Communications, Inc. has a 1-year low of $70.70 and a 1-year high of $114.74. The business has a fifty day moving average price of $97.63 and a 200 day moving average price of $94.28. The firm has a market capitalization of $28.64 billion, a PE ratio of 26.98, a PEG ratio of 4.52 and a beta of 1.03.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $1.53 EPS. The company’s revenue was up 4.9% on a year-over-year basis. 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 expect that Zoom Communications, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZM. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th. Sanford C. Bernstein reiterated a “market perform” rating and set a $108.00 price objective on shares of Zoom Communications in a report on Wednesday, August 26th. Bank of America began coverage on Zoom Communications in a report on Wednesday, August 19th. They set a “buy” rating and a $130.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $125.00 price target on shares of Zoom Communications in a research note on Monday, August 24th. Finally, Weiss Ratings upgraded Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Fourteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Zoom Communications has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its position in Zoom Communications by 43.6% during the fourth quarter. Hsbc Holdings PLC now owns 422,470 shares of the company’s stock worth $36,460,000 after purchasing an additional 128,174 shares during the period. Tidal Investments LLC raised its position in shares of Zoom Communications by 251.2% in the second quarter. Tidal Investments LLC now owns 123,450 shares of the company’s stock valued at $10,655,000 after purchasing an additional 88,303 shares during the period. Altshuler Shaham Ltd lifted its stake in shares of Zoom Communications by 1.2% in the fourth quarter. Altshuler Shaham Ltd now owns 2,043,218 shares of the company’s stock worth $176,309,000 after buying an additional 24,246 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in shares of Zoom Communications in the first quarter worth $939,000. Finally, Graham Capital Management L.P. lifted its stake in shares of Zoom Communications by 149.4% in the fourth quarter. Graham Capital Management L.P. now owns 46,720 shares of the company’s stock worth $4,031,000 after buying an additional 27,984 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

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.