BI Asset Management Fondsmaeglerselskab A S Sells 3,689 Shares of Zoom Communications, Inc. $ZM

Key Points

• BI Asset Management Fondsmaeglerselskab A S sold 3,689 shares of Zoom Communications, reducing its holdings by 22.0%, now owning 13,101 shares valued at approximately $966,000.
• Insider activity showed significant sales from key executives, with COO Aparna Bawa selling 10,528 shares, impacting their ownership by 84.18%.
• Analysts have mixed views on Zoom Communications, with price targets varying from $69.00 to $95.00 and a consensus rating of "Hold".

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 22.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,101 shares of the company's stock after selling 3,689 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Zoom Communications were worth $966,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in shares of Zoom Communications during the first quarter worth $25,000. SouthState Corp acquired a new stake in shares of Zoom Communications in the 1st quarter worth $25,000. MassMutual Private Wealth & Trust FSB grew its stake in Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after buying an additional 246 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Zoom Communications during the 4th quarter valued at about $30,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Zoom Communications during the 1st quarter valued at about $31,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the sale, the insider directly owned 129,377 shares of the company's stock, valued at approximately $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 10,528 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. The trade was a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,542 shares of company stock valued at $6,609,623 in the last ninety days. 11.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ZM shares. Citigroup dropped their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Stifel Nicolaus lowered their target price on shares of Zoom Communications from $85.00 to $80.00 and set a "hold" rating for the company in a research note on Friday. JMP Securities restated a "market perform" rating on shares of Zoom Communications in a research note on Friday. Wedbush reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Zoom Communications in a report on Friday. Finally, KeyCorp dropped their price objective on shares of Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a report on Friday. One research 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 given a Sell rating to the company. According to MarketBeat, Zoom Communications presently has a consensus rating of "Hold" and an average price target of $89.00.

Zoom Communications Price Performance

ZM stock opened at $82.47 on Friday. The company has a market capitalization of $24.95 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 19.15 and a beta of 0.68. Zoom Communications, Inc. has a 12 month low of $64.41 and a 12 month high of $92.80. The firm's fifty day simple moving average is $75.08 and its 200-day simple moving average is $76.71.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results 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 net margin of 24.99% and a return on equity of 11.95%. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the company posted $1.35 earnings per share. The firm's revenue 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.

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.

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