Lecap Asset Management Ltd. Buys New Shares in Zoom Communications, Inc. (NASDAQ:ZM)

Lecap Asset Management Ltd. bought a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,092 shares of the company's stock, valued at approximately $2,367,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Zoom Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Zoom Communications in the fourth quarter valued at $30,000. Colonial Trust Co SC bought a new position in shares of Zoom Communications in the fourth quarter valued at $32,000. Finally, MRP Capital Investments LLC increased its holdings in shares of Zoom Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler upped their price target on Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Mizuho reduced their target price on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Scotiabank lifted their price target on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 16th. Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a research note on Thursday, May 22nd. Finally, JMP Securities restated a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Zoom Communications presently has an average rating of "Hold" and a consensus target price of $87.00.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $143,583.02. This represents a 89.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $72.18, for a total transaction of $2,968,113.78. The disclosure for this sale can be found here. In the last three months, insiders sold 94,196 shares of company stock valued at $6,885,843. Company insiders own 11.51% of the company's stock.

Zoom Communications Stock Up 1.8%

ZM stock traded up $1.42 during trading hours on Friday, hitting $78.38. The company's stock had a trading volume of 3,411,330 shares, compared to its average volume of 2,889,643. The company has a market capitalization of $23.71 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 12.78 and a beta of 0.71. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a 50 day moving average price of $78.93 and a two-hundred day moving average price of $79.00.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted 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. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.35 earnings per share. Sell-side analysts expect 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.