Ieq Capital LLC Sells 14,847 Shares of Zoom Communications, Inc. $ZM

Key Points

• Ieq Capital LLC reduced its stake in Zoom Communications by 10.5%, selling 14,847 shares and holding 125,967 shares valued at approximately $9.3 million.
• Insider transactions include COO Aparna Bawa selling 10,528 shares, reflecting an 84.18% decrease in her ownership, while over the last 90 days, insiders have sold 93,017 shares valued at over $7 million.
• Analysts have mixed ratings for Zoom Communications, with Mizuho raising its price target to $100, while other firms like KeyCorp and Robert W. Baird lowered their targets, indicating a divergence of opinions on the stock's potential.

Ieq Capital LLC lessened its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,967 shares of the company's stock after selling 14,847 shares during the period. Ieq Capital LLC's holdings in Zoom Communications were worth $9,293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in shares of Zoom Communications by 6.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company's stock valued at $172,000 after buying an additional 143 shares during the last quarter. Wynn Capital LLC raised its stake 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 worth $752,000 after purchasing an additional 160 shares during the last quarter. New York State Teachers Retirement System raised its stake 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 worth $1,792,000 after purchasing an additional 171 shares during the last quarter. Siemens Fonds Invest GmbH raised its stake 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 worth $391,000 after purchasing an additional 174 shares during the last quarter. Finally, Blue Trust Inc. raised its stake 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 worth $78,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Activity

In other news, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This trade represents a 84.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 7,661 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the transaction, the insider directly owned 129,377 shares in the company, valued at $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,017 shares of company stock valued at $7,052,757. Company insiders own 11.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ZM shares. Mizuho increased their price objective on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a research report on Friday, August 22nd. KeyCorp lowered their price objective on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a research report on Friday, August 22nd. Finally, Robert W. Baird lowered their price objective on Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zoom Communications currently has an average rating of "Hold" and an average target price of $90.30.

Zoom Communications Trading Up 2.7%

Shares of NASDAQ:ZM opened at $80.96 on Thursday. The stock's 50-day moving average price is $75.23 and its 200-day moving average price is $76.59. Zoom Communications, Inc. has a 12-month low of $64.41 and a 12-month high of $92.80. The stock has a market capitalization of $24.49 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 12.14 and a beta of 0.68.

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.

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