DekaBank Deutsche Girozentrale Has $39.06 Million Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 529,041 shares of the company's stock after selling 8,585 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.17% of Zoom Communications worth $39,056,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. FMR LLC boosted its position in Zoom Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after acquiring an additional 282,645 shares during the period. Norges Bank acquired a new stake in shares of Zoom Communications during the 4th quarter valued at about $751,908,000. AQR Capital Management LLC grew its stake in shares of Zoom Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after buying an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Zoom Communications by 24.3% in the 4th 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Zoom Communications by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after buying an additional 28,725 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ZM shares. Morgan Stanley raised their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Citigroup cut their price objective on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Mizuho cut their price objective on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Scotiabank raised their price objective on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Communications in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $87.00.

Zoom Communications Trading Down 3.0%

Shares of ZM traded down $2.33 during trading hours on Thursday, hitting $75.05. 3,600,904 shares of the stock traded hands, compared to its average volume of 2,908,577. Zoom Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market capitalization of $22.71 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 12.68 and a beta of 0.68. The business has a fifty day moving average of $79.40 and a 200-day moving average of $78.61.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $1.35 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Communications

In related news, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer owned 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. Insiders have sold a total of 96,671 shares of company stock valued at $7,076,838 over the last ninety days. Company insiders own 11.51% of the company's stock.

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.