Easterly Investment Partners LLC cut its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 78.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,877 shares of the company's stock after selling 64,485 shares during the quarter. Easterly Investment Partners LLC's holdings in Zoom Communications were worth $1,319,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Zoom Communications by 18.5% in the first quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock valued at $12,977,000 after buying an additional 27,430 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Zoom Communications by 31.9% in the 1st quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock worth $328,000 after acquiring an additional 1,076 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Zoom Communications by 15.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock worth $880,000 after buying an additional 1,601 shares during the period. Spire Wealth Management increased its stake in Zoom Communications by 990.6% during the 1st quarter. Spire Wealth Management now owns 1,396 shares of the company's stock worth $103,000 after buying an additional 1,268 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Zoom Communications by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after buying an additional 171 shares during the period. 66.54% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the sale, the director owned 5,875 shares of the company's stock, valued at $439,802.50. The trade was a 80.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 33,691 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,492 shares of company stock worth $6,991,392. 11.51% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
ZM has been the topic of a number of recent analyst reports. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price target on shares of Zoom Communications in a research report on Thursday, May 22nd. Piper Sandler lifted their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Scotiabank boosted their target price on shares of 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, Wall Street Zen raised shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. One equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $87.00.
Get Our Latest Stock Analysis on Zoom Communications
Zoom Communications Price Performance
Shares of ZM stock opened at $74.60 on Friday. The firm has a market cap of $22.57 billion, a P/E ratio of 22.40, a P/E/G ratio of 12.19 and a beta of 0.68. The firm has a fifty day moving average of $78.93 and a two-hundred day moving average of $78.19. 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 earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating 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 firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the company earned $1.35 EPS. The business's quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.
Zoom Communications Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM - Free Report).
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.
Before you consider Zoom Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zoom Communications wasn't on the list.
While Zoom Communications currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
