LSV Asset Management Increases Stake in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• LSV Asset Management has increased its stake in Zoom Communications, Inc. by 6.7%, now holding about 0.30% of the company, valued at approximately $66.87 million.
• Analysts have mixed ratings on Zoom, with one issuing a sell rating while others suggest hold or buy ratings, leading to an average consensus target price of $87.00.
• Insider trading activity has seen significant sales, with insiders selling 90,017 shares worth approximately $6.8 million over the last 90 days, indicating a potential decrease in confidence among some executives.

LSV Asset Management raised its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 906,420 shares of the company's stock after buying an additional 56,860 shares during the period. LSV Asset Management owned about 0.30% of Zoom Communications worth $66,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wynn Capital LLC grew its stake in Zoom Communications by 1.6% during the first quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock valued at $752,000 after acquiring an additional 160 shares in the last quarter. New York State Teachers Retirement System lifted its position in Zoom Communications by 0.7% during 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 lifted its position in Zoom Communications by 3.8% during 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. lifted its position in Zoom Communications by 19.8% during 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 lifted its position in Zoom Communications by 3.1% during 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. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ZM shares. Wall Street Zen lowered shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Needham & Company LLC upgraded shares of Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price for the company in a report on Thursday, May 22nd. Scotiabank raised their target price on shares of Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Friday, May 16th. William Blair restated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Trading Down 4.2%

Shares of NASDAQ ZM opened at $70.97 on Friday. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a 50 day simple moving average of $77.15 and a two-hundred day simple moving average of $77.71. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 11.63 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the business posted $1.35 EPS. The business's quarterly revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Transactions at Zoom Communications

In related news, insider Velchamy Sankarlingam sold 7,661 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the transaction, the insider directly owned 129,377 shares in the company, valued at $10,026,717.50. The trade was a 5.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $1,871,500.00. Following the completion of the transaction, the director owned 5,875 shares of the company's stock, valued at approximately $439,802.50. This represents a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,017 shares of company stock worth $6,804,703. Insiders own 11.51% of the company's stock.

Zoom Communications 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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