APG Asset Management N.V. Trims Stock Position in Zoom Communications, Inc. $ZM

Key Points

• APG Asset Management N.V. reduced its stake in Zoom Communications by 4.2%, now owning 150,516 shares valued at approximately $10.28 million.
• Institutional investors and hedge funds currently hold 66.54% of Zoom's stock, reflecting strong interest from large financial entities.
• Wall Street analysts have issued mixed ratings for Zoom, with an average rating of "Hold" and an average price target of $89.04.

APG Asset Management N.V. lowered its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,516 shares of the company's stock after selling 6,567 shares during the quarter. APG Asset Management N.V.'s holdings in Zoom Communications were worth $10,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Zoom Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. AQR Capital Management LLC increased its holdings in shares of Zoom Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after purchasing an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Zoom Communications by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after purchasing an additional 36,210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Zoom Communications by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company's stock valued at $340,642,000 after purchasing an additional 87,775 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Zoom Communications by 3.7% in the fourth quarter. Northern Trust Corp now owns 1,779,423 shares of the company's stock valued at $145,219,000 after purchasing an additional 63,458 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Communications Trading Down 0.2%

Shares of NASDAQ:ZM traded down $0.13 on Thursday, hitting $80.83. The company had a trading volume of 2,962,164 shares, compared to its average volume of 3,896,428. Zoom Communications, Inc. has a 52-week low of $64.41 and a 52-week high of $92.80. The business has a 50 day moving average of $75.30 and a 200 day moving average of $76.54. The company has a market cap of $24.45 billion, a PE ratio of 21.33, a PEG ratio of 12.47 and a beta of 0.68.

Insiders Place Their Bets

In other news, Director Herbert Raymond Mcmaster sold 2,000 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $83.00, for a total value of $166,000.00. Following the sale, the director directly owned 7,901 shares in the company, valued at $655,783. This represents a 20.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 10,528 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the completion of the sale, the chief operating officer owned 1,978 shares in the company, valued at $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,017 shares of company stock valued at $7,052,757. Insiders own 11.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ZM shares. Piper Sandler reissued a "neutral" rating and issued a $85.00 target price on shares of Zoom Communications in a report on Friday, August 22nd. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a report on Friday, August 22nd. Citigroup upped their price objective on Zoom Communications from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered Zoom Communications from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Zoom Communications presently has a consensus rating of "Hold" and a consensus price target of $90.30.

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.