Zoom Communications, Inc. (NASDAQ:ZM) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Zoom Communications during the fourth quarter worth $751,908,000. Altshuler Shaham Ltd raised its position in shares of Zoom Communications by 285.9% in the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock worth $167,813,000 after acquiring an additional 1,523,480 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Zoom Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after acquiring an additional 1,247,717 shares during the period. Contrarius Group Holdings Ltd acquired a new position in shares of Zoom Communications in the fourth quarter worth about $72,854,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Zoom Communications by 357.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company's stock worth $81,507,000 after purchasing an additional 780,446 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Communications Trading Down 2.2%

Shares of NASDAQ ZM traded down $1.65 during mid-day trading on Friday, reaching $73.40. The company had a trading volume of 4,071,362 shares, compared to its average volume of 2,904,253. The firm has a 50 day simple moving average of $79.26 and a two-hundred day simple moving average of $78.36. The stock has a market cap of $22.21 billion, a P/E ratio of 22.04, a PEG ratio of 12.02 and a beta of 0.68. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

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 (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm posted $1.35 EPS. Zoom Communications's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZM. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 target price on shares of Zoom Communications in a research note on Thursday, May 22nd. Morgan Stanley upped 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 note on Thursday, May 22nd. Bank of America upped their price objective on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Benchmark reaffirmed a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoom Communications currently has an average rating of "Hold" and an average price target of $87.00.

Insider Buying and Selling

In related news, Director Jonathan Chadwick sold 12,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were 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. This trade represents a 89.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Aparna Bawa sold 16,099 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the sale, the chief operating officer owned 1,978 shares of the company's stock, valued at $143,583.02. This trade represents a 89.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,332 shares of company stock worth $7,670,566. 10.78% of the stock is currently owned by 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.