Monaco Asset Management SAM Buys 19,000 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Monaco Asset Management SAM increased its stake in Zoom Communications by 253.3%, acquiring an additional 19,000 shares to reach a total of 26,500 shares valued at approximately $1.95 million.
• CEO Eric S. Yuan sold 33,691 shares of the company's stock, while Director Jonathan Chadwick sold 25,000 shares, significantly reducing their holdings.
• Several research firms have upgraded their price targets for Zoom Communications, with an average target now set at $87.00, reflecting a generally positive outlook from analysts.

Monaco Asset Management SAM raised its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 253.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 26,500 shares of the company's stock after buying an additional 19,000 shares during the quarter. Zoom Communications comprises about 0.4% of Monaco Asset Management SAM's holdings, making the stock its 26th largest position. Monaco Asset Management SAM's holdings in Zoom Communications were worth $1,955,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wynn Capital LLC boosted its position in shares of Zoom Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after buying an additional 160 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Zoom Communications by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after buying an additional 171 shares in the last quarter. Siemens Fonds Invest GmbH lifted its holdings in Zoom Communications by 3.8% in the 4th 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 in the last quarter. Blue Trust Inc. lifted its holdings in Zoom Communications by 19.8% in the 1st quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock valued at $78,000 after purchasing an additional 175 shares in the last quarter. Finally, Burns Matteson Capital Management LLC lifted its holdings in Zoom Communications by 3.1% in the 1st 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 in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoom Communications

In related news, COO Aparna Bawa sold 10,528 shares of Zoom Communications stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the sale, the chief operating officer owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This trade represents a 84.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider directly owned 129,377 shares in the company, valued at approximately $10,026,717.50. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,017 shares of company stock valued at $6,804,703 over the last 90 days. Insiders own 11.51% of the company's stock.

Analyst Upgrades and Downgrades

ZM has been the topic of several recent analyst reports. Benchmark reiterated a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a report on Tuesday, May 20th. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price target on shares of Zoom Communications in a research report on Thursday, May 22nd. Scotiabank lifted their price objective 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. Wells Fargo & Company raised their target price on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Mizuho cut their price objective on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Price Performance

Shares of NASDAQ ZM traded down $3.08 during trading hours on Friday, reaching $70.97. The stock had a trading volume of 3,358,248 shares, compared to its average volume of 2,657,381. The business's fifty day moving average is $77.32 and its two-hundred day moving average is $77.78. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 12.16 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. Sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal 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.