Jonathan Chadwick Sells 25,000 Shares of Zoom Communications, Inc. (NASDAQ:ZM) Stock

Zoom Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total value of $1,871,500.00. Following the transaction, the director owned 5,875 shares in the company, valued at approximately $439,802.50. This represents a 80.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Zoom Communications Stock Up 0.3%

NASDAQ:ZM opened at $74.85 on Friday. Zoom Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock’s fifty day moving average is $78.80 and its two-hundred day moving average is $78.14. The stock has a market capitalization of $22.65 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 12.22 and a beta of 0.68.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. Needham & Company LLC upgraded Zoom Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 target price for the company in a report on Thursday, May 22nd. Wells Fargo & Company lifted their price target on Zoom Communications from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Piper Sandler boosted their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities lifted their target price on shares of Zoom Communications from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Zoom Communications has an average rating of “Hold” and an average price target of $87.00.

Institutional Investors Weigh In On Zoom Communications

Hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new stake in shares of Zoom Communications in the 4th quarter valued at approximately $966,000. PNC Financial Services Group Inc. increased its holdings in Zoom Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock valued at $330,000 after buying an additional 168 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Zoom Communications by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,908 shares of the company’s stock valued at $156,000 after buying an additional 281 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Zoom Communications by 9.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,363 shares of the company’s stock valued at $274,000 after buying an additional 278 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Zoom Communications by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 33,501 shares of the company’s stock worth $2,734,000 after buying an additional 715 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

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.