Mirae Asset Global Investments Co. Ltd. Has $1.67 Million Position in Zoom Communications, Inc. (NASDAQ:ZM)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,266 shares of the company's stock after selling 6,525 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Zoom Communications were worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Wynn Capital LLC grew its holdings in shares of Zoom Communications by 1.6% during 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 in the last quarter. PNC Financial Services Group Inc. raised its holdings in Zoom Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after purchasing an additional 168 shares in the last quarter. Siemens Fonds Invest GmbH raised its holdings in 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 in the last quarter. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 175 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Zoom Communications by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company's stock valued at $3,303,000 after acquiring an additional 215 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoom Communications news, insider Velchamy Sankarlingam sold 2,595 shares of Zoom Communications stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $80.26, for a total value of $208,274.70. Following the sale, the insider owned 126,393 shares of the company's stock, valued at $10,144,302.18. The trade was a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director owned 4,728 shares of the company's stock, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,196 shares of company stock worth $6,885,843. Insiders own 11.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZM. Wells Fargo & Company increased their price objective on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price on the stock in a research report on Thursday, May 22nd. William Blair reissued an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, Piper Sandler raised their target price on Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Trading Up 0.7%

Shares of ZM opened at $78.12 on Friday. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business's 50 day moving average is $79.38 and its 200 day moving average is $78.75. The company has a market capitalization of $23.64 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 12.87 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $1.35 EPS. The company's revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that Zoom Communications, Inc. will post 2.93 earnings per share for the current 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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