DekaBank Deutsche Girozentrale Sells 8,585 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

DekaBank Deutsche Girozentrale decreased its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 529,041 shares of the company's stock after selling 8,585 shares during the period. DekaBank Deutsche Girozentrale owned about 0.17% of Zoom Communications worth $39,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its holdings in shares of Zoom Communications by 201.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 49,304 shares of the company's stock valued at $3,637,000 after buying an additional 32,930 shares during the period. Envestnet Asset Management Inc. boosted its stake in Zoom Communications by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 29,353 shares of the company's stock valued at $2,165,000 after purchasing an additional 206 shares during the period. Cloud Capital Management LLC acquired a new position in Zoom Communications during the 1st quarter valued at about $42,000. Wayfinding Financial LLC acquired a new position in Zoom Communications during the 1st quarter valued at about $25,000. Finally, IFM Investors Pty Ltd boosted its stake in Zoom Communications by 11.5% during the 1st quarter. IFM Investors Pty Ltd now owns 53,262 shares of the company's stock valued at $3,714,000 after purchasing an additional 5,493 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Communications Stock Performance

Shares of Zoom Communications stock traded down $1.65 on Friday, reaching $73.40. 4,071,362 shares of the company's stock were exchanged, compared to its average volume of 2,906,388. Zoom Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm's 50-day moving average is $79.26 and its two-hundred day moving average is $78.46. The company has a market capitalization of $22.21 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 12.29 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share 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 analysts' expectations of $1.17 billion. During the same period last year, the business earned $1.35 EPS. The business's revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Insider Activity

In related news, Director Jonathan Chadwick sold 12,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total value of $907,125.00. Following the completion of the sale, the director owned 1,514 shares in the company, valued at $109,870.98. The trade was a 89.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of Zoom Communications stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 1,978 shares in the company, valued at $143,583.02. This trade represents a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,332 shares of company stock worth $7,670,566. Company insiders own 11.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp assumed coverage on shares of Zoom Communications in a research note on Friday, June 6th. They issued an "underweight" rating and a $73.00 price target for the company. Mizuho cut their price target on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Citigroup cut their price target on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Wall Street Zen raised shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price objective on shares of Zoom Communications in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Communications currently has an average rating of "Hold" and an average target price of $87.00.

Zoom Communications 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.