Zoom Communications, Inc. (NASDAQ:ZM) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 71.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,102 shares of the company's stock after selling 5,201 shares during the quarter. Meeder Asset Management Inc.'s holdings in Zoom Communications were worth $155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZM. Altshuler Shaham Ltd boosted its position in shares of Zoom Communications by 285.9% during the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock worth $167,813,000 after acquiring an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Zoom Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Victory Capital Management Inc. lifted its position in Zoom Communications by 119.5% during the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock valued at $103,670,000 after purchasing an additional 765,092 shares during the last quarter. Junto Capital Management LP bought a new position in Zoom Communications during the fourth quarter valued at $36,580,000. Finally, Renaissance Technologies LLC lifted its position in Zoom Communications by 9.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock valued at $351,319,000 after purchasing an additional 380,900 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Communications Price Performance

NASDAQ ZM traded down $3.08 during trading on Friday, reaching $70.97. 3,358,248 shares of the company's stock traded hands, compared to its average volume of 3,285,192. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 12.13 and a beta of 0.68. The company's 50 day simple moving average is $77.32 and its two-hundred day simple moving average is $77.78. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

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, beating analysts' consensus estimates of $1.30 by $0.13. The business had revenue of $1.17 billion for 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 EPS. Research analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,661 shares of Zoom Communications stock in a transaction that occurred 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 transaction, the insider owned 129,377 shares of the company's stock, valued at $10,026,717.50. The trade was a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications stock in a transaction that occurred on Tuesday, July 15th. The stock was 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 directly owned 5,875 shares in the company, valued at approximately $439,802.50. The trade was a 80.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,017 shares of company stock worth $6,804,703. 11.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler increased their price objective on shares of Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Wells Fargo & Company increased their price objective on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Mizuho lowered their price objective on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Bank of America increased their price objective on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Benchmark reiterated a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $87.00.

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.