ASR Vermogensbeheer N.V. Takes Position in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $513,000 in Zoom Communications, Inc. by acquiring 6,960 shares during the first quarter.
• Zoom reported earnings of $1.43 per share, surpassing analysts' expectations, with revenues hitting $1.17 billion for the quarter.
• Insider trades showed significant selling activity, with directors selling over 87,500 shares in the last ninety days, leading to concerns about insider sentiment.

ASR Vermogensbeheer N.V. bought a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,960 shares of the company's stock, valued at approximately $513,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd increased its stake in shares of Zoom Communications by 285.9% during the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock valued at $167,813,000 after buying an additional 1,523,480 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Zoom Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after buying an additional 1,247,717 shares during the period. Victory Capital Management Inc. increased its stake in shares of Zoom Communications by 119.5% during the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock valued at $103,670,000 after buying an additional 765,092 shares during the period. Vanguard Group Inc. increased its stake in shares of Zoom Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after buying an additional 624,863 shares during the period. Finally, Junto Capital Management LP purchased a new position in shares of Zoom Communications during the fourth quarter valued at $36,580,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Stock Up 0.3%

Shares of NASDAQ:ZM traded up $0.19 during trading on Tuesday, hitting $69.96. The stock had a trading volume of 3,089,019 shares, compared to its average volume of 3,084,080. Zoom Communications, Inc. has a 12-month low of $55.28 and a 12-month high of $92.80. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 18.26 and a beta of 0.68. The stock has a 50-day simple moving average of $76.16 and a two-hundred day simple moving average of $77.39.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data 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. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the business posted $1.35 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Needham & Company LLC raised shares of Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price for the company in a research report on Thursday, May 22nd. Morgan Stanley upped their price target on Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Piper Sandler boosted their target price on Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upped their target price on Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Zoom Communications presently has a consensus rating of "Hold" and an average target price of $87.00.

Insider Activity at Zoom Communications

In related news, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $76.78, for a total transaction of $200,933.26. Following the completion of the transaction, the director directly owned 4,728 shares in the company, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 10,528 shares of Zoom Communications stock in a transaction that occurred 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 transaction, the chief operating officer owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,542 shares of company stock valued at $6,609,623 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

About Zoom Communications

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.