Federated Hermes Inc. Has $46.31 Million Stake in Zoom Communications, Inc. (NASDAQ:ZM)

Federated Hermes Inc. lessened its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 627,740 shares of the company's stock after selling 82,976 shares during the period. Federated Hermes Inc. owned about 0.21% of Zoom Communications worth $46,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pictet Asset Management Holding SA grew its holdings in shares of Zoom Communications by 78.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 170,451 shares of the company's stock valued at $13,911,000 after acquiring an additional 74,844 shares in the last quarter. Allstate Corp purchased a new position in shares of Zoom Communications during the 4th quarter valued at $587,000. Schroder Investment Management Group grew its holdings in shares of Zoom Communications by 504.9% during the 4th quarter. Schroder Investment Management Group now owns 127,374 shares of the company's stock valued at $10,538,000 after acquiring an additional 106,318 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Zoom Communications by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 375,652 shares of the company's stock valued at $30,657,000 after acquiring an additional 6,803 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Zoom Communications by 24.4% during the 4th quarter. Franklin Resources Inc. now owns 412,616 shares of the company's stock valued at $33,673,000 after acquiring an additional 80,834 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZM. Wells Fargo & Company boosted their price target on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Citigroup decreased their price objective on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Wall Street Zen cut shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley upped their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Communications presently has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Trading Down 4.2%

NASDAQ:ZM traded down $3.08 during mid-day trading on Friday, hitting $70.97. The company's stock had a trading volume of 3,358,248 shares, compared to its average volume of 3,285,192. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a market capitalization of $21.47 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 12.13 and a beta of 0.68. The stock has a fifty day moving average of $77.32 and a 200-day moving average of $77.78.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $1.35 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Transactions at Zoom Communications

In other news, Director Janet Napolitano sold 2,617 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $76.78, for a total transaction of $200,933.26. Following the completion of the sale, the director owned 4,728 shares of the company's stock, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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. Over the last three months, insiders have sold 90,017 shares of company stock valued at $6,804,703. Corporate insiders own 11.51% of the company's stock.

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.