Eric S. Yuan Sells 33,691 Shares of Zoom Communications, Inc. (NASDAQ:ZM) Stock

Zoom Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Zoom Communications Price Performance

Shares of ZM stock opened at $74.85 on Friday. The stock’s fifty day simple moving average is $78.80 and its 200 day simple moving average is $78.14. Zoom Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a market cap of $22.65 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 12.22 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business earned $1.35 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Hedge Funds Weigh In On Zoom Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wayfinding Financial LLC bought a new position in shares of Zoom Communications during the 1st quarter valued at about $25,000. SouthState Corp acquired a new stake in Zoom Communications during the 1st quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $28,000 after buying an additional 246 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Communications in the fourth quarter valued at approximately $30,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Zoom Communications in the first quarter valued at approximately $31,000. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ZM shares. JPMorgan Chase & Co. upped their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. KeyCorp assumed coverage on Zoom Communications in a research report on Friday, June 6th. They issued an “underweight” rating and a $73.00 target price on the stock. Piper Sandler raised their price target on Zoom Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. William Blair reaffirmed an “outperform” rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised Zoom Communications from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.00.

Zoom Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.