Zoom Communications, Inc. (NASDAQ:ZM – Get Free Report) insider Velchamy Sankarlingam sold 7,660 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $82.00, for a total value of $628,120.00. Following the sale, the insider owned 132,795 shares of the company’s stock, valued at approximately $10,889,190. The trade was a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Velchamy Sankarlingam also recently made the following trade(s):
- On Wednesday, September 10th, Velchamy Sankarlingam sold 2,595 shares of Zoom Communications stock. The shares were sold at an average price of $85.09, for a total value of $220,808.55.
Zoom Communications Stock Up 0.2%
Shares of NASDAQ:ZM opened at $79.51 on Thursday. The business has a 50 day moving average price of $80.21 and a 200 day moving average price of $77.73. Zoom Communications, Inc. has a twelve month low of $64.41 and a twelve month high of $92.80. The company has a market cap of $24.06 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 10.82 and a beta of 0.78.
Hedge Funds Weigh In On Zoom Communications
Several institutional investors have recently bought and sold shares of the business. CWM LLC raised its position in Zoom Communications by 76.7% in the 3rd quarter. CWM LLC now owns 214,537 shares of the company’s stock valued at $17,699,000 after purchasing an additional 93,131 shares during the last quarter. Pacer Advisors Inc. raised its position in Zoom Communications by 54.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,695,193 shares of the company’s stock valued at $222,353,000 after purchasing an additional 949,829 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new position in Zoom Communications in the 3rd quarter valued at $1,238,000. Brookstone Capital Management bought a new position in Zoom Communications in the 3rd quarter valued at $648,000. Finally, Albert D Mason Inc. bought a new position in Zoom Communications in the 3rd quarter valued at $231,000. Institutional investors own 66.54% of the company’s stock.
Analysts Set New Price Targets
ZM has been the subject of a number of research reports. William Blair reiterated an “outperform” rating on shares of Zoom Communications in a research report on Tuesday, September 30th. Zacks Research upgraded Zoom Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Zoom Communications in a research report on Thursday, September 18th. KeyCorp cut their target price on Zoom Communications from $73.00 to $69.00 and set an “underweight” rating for the company in a research report on Friday, August 22nd. Finally, Citigroup raised their target price on Zoom Communications from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $91.74.
Check Out Our Latest Stock Report on Zoom Communications
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.
Further Reading
- Five stocks we like better than Zoom Communications
- Top Stocks Investing in 5G Technology
- Palantir’s New Healthcare Deal Boosts AI and Data Reach
- Insider Trades May Not Tell You What You Think
- GM’s Billion-Dollar Bruise: GM’s Strategic Pivot Makes It a Buy
- What is a support level?
- Novo Nordisk’s Akero Therapeutics Buy Targets Eli Lilly’s Lead
Receive News & Ratings for Zoom Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Communications and related companies with MarketBeat.com's FREE daily email newsletter.