285,700 Shares in Zoom Communications, Inc. (NASDAQ:ZM) Purchased by Nan Fung Trinity HK Ltd.

Key Points

• Nan Fung Trinity HK Ltd. acquired 285,700 shares of Zoom Communications, valued at approximately $21.1 million, making it the firm's 9th largest position.
• Insiders have sold a total of 90,017 shares worth around $6.8 million in the last three months, which accounts for a 4.39% decrease in one director's stock position.
• Zoom's stock has a market capitalization of $22.81 billion, with a recent price range between $55.06 and $92.80 over the last year.

Nan Fung Trinity HK Ltd. purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 285,700 shares of the company's stock, valued at approximately $21,076,000. Zoom Communications makes up approximately 3.3% of Nan Fung Trinity HK Ltd.'s investment portfolio, making the stock its 9th biggest position. Nan Fung Trinity HK Ltd. owned about 0.09% of Zoom Communications as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. FMR LLC boosted its stake in shares of Zoom Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after acquiring an additional 282,645 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Zoom Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock worth $615,237,000 after acquiring an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Zoom Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after acquiring an additional 1,247,717 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Zoom Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after acquiring an additional 28,725 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Zoom Communications by 9.7% in the fourth quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock worth $351,319,000 after buying an additional 380,900 shares during the period. 66.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ZM has been the subject of several recent analyst reports. Rosenblatt Securities raised their target price on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their target price on Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. KeyCorp initiated coverage on Zoom Communications in a research report on Friday, June 6th. They issued an "underweight" rating and a $73.00 target price for the company. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications 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, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $87.00.

Insider Activity at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the completion of the sale, the chief operating officer directly owned 1,978 shares in the company, valued at approximately $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,017 shares of company stock valued at $6,804,703. Insiders own 11.51% of the company's stock.

Zoom Communications Trading Down 0.4%

NASDAQ ZM traded down $0.27 during trading on Wednesday, hitting $74.24. 2,259,700 shares of the company traded hands, compared to its average volume of 3,304,739. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business has a fifty day simple moving average of $77.48 and a 200 day simple moving average of $77.81. The company has a market capitalization of $22.46 billion, a P/E ratio of 22.29, a PEG ratio of 12.21 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $1.35 earnings per share. The business'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 EPS 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.