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Velchamy Sankarlingam, President of Engineering & Product at Zoom Communications, Inc. (NASDAQ:ZM), sold 7,661 shares of Class A Common Stock on July 10, at a price of $77.50, for a total value of $593,727.
According to a Form 4 filing with the Securities and Exchange Commission, on July 9, Velchamy also exercised options on 20,752 shares of Class A Common Stock at a price of $0. On the same day, the filing indicates the disposition of 10,538 shares at $77.42, for a total value of $815,851, to cover tax obligations related to the vesting of restricted stock units. Despite these insider transactions, management has been actively buying back shares, and the company maintains a strong balance sheet with minimal debt, as revealed in InvestingPro’s comprehensive analysis of over 30 financial metrics.
Following these transactions, Velchamy directly owns 129,377 shares of Zoom Class A Common Stock. Additionally, Velchamy has indirect ownership of shares through the Velchamy Family Trust (36,060 shares), Harshini Velchamy (2,000 shares), Ashwini Velchamy (2,000 shares), and Janani Velchamy (2,000 shares). The stock has shown resilience with relatively low volatility, gaining over 32% in the past year, while maintaining strong fundamentals with a current ratio of 4.57x.
In other recent news, Zoom Communications has made notable advancements. The company recently held its 2025 Annual Meeting of Stockholders, where all proposals were approved, including the election of directors and the appointment of KPMG LLP as the independent auditor. Meanwhile, Zoom has expanded its Zoom Phone service to four additional telecom circles in India, now covering six major business and technology hubs in the country. This expansion aims to meet the rising demand for cloud telephony solutions supporting distributed workforces.
Financial analysts have also weighed in on Zoom’s performance. Benchmark raised the company’s stock price target to $102, maintaining a Buy rating, after Zoom exceeded its first-quarter revenue expectations and adjusted its revenue forecast upward. Piper Sandler increased their price target to $85 from $77, noting the traction of newer products, though they maintained a Neutral rating. Stifel analysts reiterated a Hold rating with an $85 price target, observing stable trends but extended sales cycles among large U.S. customers. These developments reflect Zoom’s efforts to navigate a challenging economic environment while continuing to innovate and expand its offerings.
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