Fox Run Management L.L.C. Raises Holdings in Zoom Communications, Inc. $ZM

Key Points

• Fox Run Management L.L.C. increased its stake in Zoom Communications by 127%, owning 11,757 shares valued at approximately $867,000 following the purchase of an additional 6,577 shares in the first quarter.
• Insiders at Zoom, including Velchamy Sankarlingam and CEO Eric S. Yuan, sold a combined total of 41,352 shares for over $3 million in July, indicating a net decrease in their ownership positions.
• Zoom reported $1.43 EPS for the most recent quarter, outperforming analysts' expectations of $1.30, with a net margin of 22.31% and revenue around $1.17 billion.

Fox Run Management L.L.C. increased its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 127.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,757 shares of the company's stock after acquiring an additional 6,577 shares during the quarter. Fox Run Management L.L.C.'s holdings in Zoom Communications were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp purchased a new stake in Zoom Communications during the first quarter valued at $25,000. Wayfinding Financial LLC purchased a new position in Zoom Communications in the 1st quarter worth about $25,000. Raiffeisen Bank International AG purchased a new position in Zoom Communications in the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB increased its stake in Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after buying an additional 246 shares during the period. Finally, Colonial Trust Co SC purchased a new stake in Zoom Communications in the fourth quarter worth about $32,000. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction 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 completion of the sale, the director owned 5,875 shares in the company, valued at approximately $439,802.50. The trade was a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,542 shares of company stock valued at $6,609,623. 11.51% of the stock is currently owned by company insiders.

Zoom Communications Stock Performance

Shares of ZM stock traded up $0.2510 on Thursday, hitting $72.4110. The company had a trading volume of 1,303,610 shares, compared to its average volume of 2,642,409. The firm has a market cap of $21.91 billion, a P/E ratio of 21.77, a P/E/G ratio of 18.89 and a beta of 0.68. The stock's 50-day moving average is $75.05 and its two-hundred day moving average is $76.82. Zoom Communications, Inc. has a twelve month low of $60.71 and a twelve month 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, topping 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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the firm posted $1.35 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Analysts Set New Price Targets

ZM has been the subject of several recent research reports. Wall Street Zen lowered shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Zoom Communications in a research note on Thursday, May 22nd. Piper Sandler raised their target price on Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Benchmark reiterated a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. Finally, JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $87.00.

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.