Lecap Asset Management Ltd. Invests $2.37 Million in Zoom Communications, Inc. (NASDAQ:ZM)

Lecap Asset Management Ltd. bought a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,092 shares of the company's stock, valued at approximately $2,367,000.

A number of other large investors also recently made changes to their positions in ZM. Parkside Financial Bank & Trust boosted its holdings in Zoom Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after purchasing an additional 258 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Zoom Communications in the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB grew its position in Zoom Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after buying an additional 246 shares in the last quarter. Colonial Trust Co SC bought a new position in Zoom Communications during the 4th quarter worth $32,000. Finally, MRP Capital Investments LLC raised its holdings in Zoom Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Communications

In related news, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares of the company's stock, valued at $9,026,790.39. The trade was a 8.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 41,121 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,196 shares of company stock worth $6,885,843. Company insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ZM shares. Mizuho decreased their price target on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. UBS Group dropped their target price on shares of Zoom Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Monday. Finally, Needham & Company LLC upgraded shares of Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Stock Performance

ZM stock opened at $76.45 on Wednesday. The company has a market capitalization of $23.13 billion, a P/E ratio of 22.96, a PEG ratio of 12.83 and a beta of 0.71. The company has a fifty day moving average price of $78.57 and a 200-day moving average price of $79.12. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its 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 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 analyst estimates of $1.17 billion. During the same period last year, the company earned $1.35 EPS. Zoom Communications's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Zoom Communications Company 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.

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