Gulf International Bank UK Ltd Sells 4,671 Shares of Zoom Communications, Inc. $ZM

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Zoom Communications, Inc. by 25% during Q1, now owning 14,013 shares valued at approximately $1.03 million after selling 4,671 shares.
• Insider trading activity included Director Jonathan Chadwick selling 25,000 shares, and COO Aparna Bawa selling 10,528 shares, indicating significant decreases in their respective ownerships by 80.97% and 84.18%.
• Wall Street analysts have mixed reviews on Zoom, with a consensus rating of "Hold" and an average price target of $87.00, despite some upgrades and downgrades in recent reports.

Gulf International Bank UK Ltd lessened its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 25.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,013 shares of the company's stock after selling 4,671 shares during the period. Gulf International Bank UK Ltd's holdings in Zoom Communications were worth $1,033,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wynn Capital LLC grew its position in shares of Zoom Communications by 1.6% in the first quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock valued at $752,000 after purchasing an additional 160 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Zoom Communications by 0.7% in the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock valued at $1,792,000 after purchasing an additional 171 shares during the last quarter. Siemens Fonds Invest GmbH grew its position in shares of Zoom Communications by 3.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock valued at $391,000 after purchasing an additional 174 shares during the last quarter. Blue Trust Inc. grew its position in shares of Zoom Communications by 19.8% in the first quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock valued at $78,000 after purchasing an additional 175 shares during the last quarter. Finally, Burns Matteson Capital Management LLC grew its position in shares of Zoom Communications by 3.1% in the first quarter. Burns Matteson Capital Management LLC now owns 5,801 shares of the company's stock valued at $428,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

ZM has been the topic of several research reports. Piper Sandler upped their target price on Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Scotiabank increased their price target on Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Friday, May 16th. Wall Street Zen lowered Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. William Blair restated an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities raised their price objective 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 analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.00.

Insider Buying and Selling at Zoom Communications

In related news, COO Aparna Bawa sold 10,528 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the sale, the chief operating officer owned 1,978 shares in the company, valued at $147,914.84. The trade was a 84.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 7,661 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the sale, the insider owned 129,377 shares in the company, valued at $10,026,717.50. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,542 shares of company stock worth $6,609,623 over the last three months. 11.51% of the stock is owned by corporate insiders.

Zoom Communications Stock Up 0.6%

Shares of ZM traded up $0.4110 during midday trading on Thursday, hitting $72.5710. The company's stock had a trading volume of 1,004,128 shares, compared to its average volume of 2,640,230. Zoom Communications, Inc. has a one year low of $60.71 and a one year high of $92.80. The company's fifty day simple moving average is $75.05 and its two-hundred day simple moving average is $76.82. The stock has a market capitalization of $21.96 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 18.89 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) 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 company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted $1.35 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts predict that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

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.