Deutsche Bank AG Sells 236,139 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Deutsche Bank AG has reduced its stake in Zoom Communications by 22.1%, selling 236,139 shares to hold 831,800 shares valued at approximately $61.36 million.
• Despite the recent sales, institutional investors still own 66.54% of Zoom's stock, indicating strong interest in the company.
• Analysts have varied opinions on Zoom's stock, with target price estimates ranging from $71 to $100, reflecting mixed expectations for its performance.

Deutsche Bank AG decreased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 22.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 831,800 shares of the company's stock after selling 236,139 shares during the period. Deutsche Bank AG owned 0.27% of Zoom Communications worth $61,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZM. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications during the 1st quarter worth approximately $25,000. Raiffeisen Bank International AG purchased a new position in shares of Zoom Communications during the 4th quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 acquiring an additional 246 shares during the period. Colonial Trust Co SC purchased a new position in shares of Zoom Communications during the 4th quarter worth approximately $32,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Zoom Communications during the 1st quarter worth approximately $42,000. Institutional investors own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZM. Wells Fargo & Company upped their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Mizuho reduced their target price on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Royal Bank Of Canada reiterated an "outperform" rating and set a $95.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd. Piper Sandler upped their price target on Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities upped their price target on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Zoom Communications presently has a consensus rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Price Performance

NASDAQ ZM opened at $69.77 on Tuesday. The business's fifty day moving average price is $76.16 and its 200-day moving average price is $77.39. The stock has a market capitalization of $21.11 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 18.73 and a beta of 0.68. Zoom Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the firm earned $1.35 EPS. The company's revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $77.50, for a total transaction of $593,727.50. Following the sale, the insider directly owned 129,377 shares of the company's stock, valued at $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 33,691 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. Insiders sold 87,542 shares of company stock worth $6,609,623 in the last quarter. Company insiders own 10.78% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.