Sankarlingam Velchamy, President of Engineering & Product at Zoom Communications, Inc. (NASDAQ:ZM), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Velchamy sold 11,839 shares of Zoom’s Class A Common Stock on April 15, 2025. The shares were sold at a price of $71.91 each, amounting to a total transaction value of $851,342. Based on InvestingPro’s Fair Value analysis, Zoom’s stock currently appears undervalued, with the company holding more cash than debt on its balance sheet.
Following this sale, Velchamy holds 125,529 shares directly. Additionally, he maintains indirect ownership through the Velchamy Family Trust and other family-related holdings, including shares held by Harshini Velchamy, Ashwini Velchamy, and Janani Velchamy.
The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks in a manner that avoids potential insider trading violations.
In other recent news, Zoom Communications has announced the resignation of its Chief Accounting Officer, Shane Crehan, effective May 2, 2025. During the search for a permanent replacement, Chief Financial Officer Michelle Chang will assume the additional duties of principal accounting officer. Piper Sandler has adjusted its price target for Zoom, lowering it from $89 to $77, while maintaining a Neutral rating, citing factors like foreign exchange changes and potential demand pressures. Meanwhile, Benchmark analyst Matthew Harrigan has reiterated a Buy rating with a $97 price target, highlighting the growth in monthly active users for Zoom’s AI Companion as a positive factor. Zoom has also unveiled significant AI enhancements across its platform, including new AI Companion capabilities designed to improve productivity and collaboration. Additionally, Zoom and Mitel have launched a hybrid cloud communications solution, integrating Zoom’s AI-driven tools with Mitel’s telephony services. This collaboration aims to meet the rising demand for hybrid unified communications in enterprises. These developments reflect Zoom’s ongoing efforts to adapt to market dynamics and enhance its product offerings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.