National Bank of Canada FI Trims Holdings in Zoom Communications, Inc. $ZM

Key Points

• National Bank of Canada FI drastically reduced its stake in Zoom Communications, Inc. by 99.7%, lowering its ownership from 534,801 shares to just 1,547 shares, with holdings now valued at $114,000.
• Zoom Communications experienced mixed analyst ratings, with one equities research analyst issuing a sell rating, while the consensus rating is currently "Hold" with a target price of $87.00.
• Zoom's COO, Aparna Bawa, sold over 10,528 shares recently, reflecting a significant decrease in insider ownership amid ongoing transactions that involved over $6.6 million in insider stock sales in the last ninety days.

National Bank of Canada FI reduced its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 99.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,547 shares of the company's stock after selling 533,254 shares during the period. National Bank of Canada FI's holdings in Zoom Communications were worth $114,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in Zoom Communications by 11.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 29,147 shares of the company's stock valued at $2,379,000 after buying an additional 3,064 shares during the period. Townsquare Capital LLC acquired a new stake in Zoom Communications in the fourth quarter valued at approximately $219,000. Mariner LLC grew its position in Zoom Communications by 47.1% in the fourth quarter. Mariner LLC now owns 28,654 shares of the company's stock valued at $2,339,000 after acquiring an additional 9,172 shares in the last quarter. NewEdge Advisors LLC grew its position in Zoom Communications by 8.2% in the fourth quarter. NewEdge Advisors LLC now owns 6,856 shares of the company's stock valued at $560,000 after acquiring an additional 521 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Zoom Communications by 216.2% in the fourth quarter. Marshall Wace LLP now owns 58,510 shares of the company's stock valued at $4,775,000 after acquiring an additional 40,003 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZM has been the subject of several recent research reports. Wall Street Zen downgraded shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley raised their price target on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised their price target on shares of Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One equities research 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Stock Up 0.7%

Shares of ZM stock opened at $73.64 on Tuesday. Zoom Communications, Inc. has a 12 month low of $58.49 and a 12 month high of $92.80. The firm has a market cap of $22.28 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 19.14 and a beta of 0.68. The stock has a 50 day moving average of $75.31 and a 200-day moving average of $76.89.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued 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. 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.35 earnings per share. Zoom Communications's revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Insider Activity at Zoom Communications

In related news, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer owned 1,978 shares in the company, valued at $147,914.84. This trade represents a 84.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 7,661 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was 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 in the company, valued at approximately $10,026,717.50. This trade represents a 5.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,542 shares of company stock valued at $6,609,623. 10.78% of the stock is currently owned by company insiders.

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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