Northwestern Mutual Wealth Management Co. Sells 14,220 Shares of Zoom Communications, Inc. $ZM

Northwestern Mutual Wealth Management Co. lessened its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 69.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,357 shares of the company's stock after selling 14,220 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Zoom Communications were worth $469,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ZM. Stifel Financial Corp raised its holdings in shares of Zoom Communications by 3.3% in the fourth quarter. Stifel Financial Corp now owns 13,910 shares of the company's stock valued at $1,135,000 after buying an additional 450 shares during the last quarter. Comerica Bank boosted its holdings in Zoom Communications by 18.5% during the fourth quarter. Comerica Bank now owns 3,502 shares of the company's stock worth $286,000 after purchasing an additional 547 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Zoom Communications by 15.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,962 shares of the company's stock valued at $1,466,000 after purchasing an additional 2,437 shares in the last quarter. Ancora Advisors LLC grew its holdings in Zoom Communications by 20.8% during the fourth quarter. Ancora Advisors LLC now owns 1,366 shares of the company's stock worth $111,000 after purchasing an additional 235 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Zoom Communications by 17.8% during the fourth quarter. Ameriprise Financial Inc. now owns 132,120 shares of the company's stock worth $10,779,000 after purchasing an additional 20,000 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Trading Down 0.8%

ZM stock traded down $0.70 during trading on Thursday, hitting $82.79. The company had a trading volume of 4,810,552 shares, compared to its average volume of 3,869,964. Zoom Communications, Inc. has a one year low of $64.41 and a one year high of $92.80. The business has a 50-day moving average of $75.70 and a 200-day moving average of $76.48. The stock has a market cap of $25.05 billion, a PE ratio of 21.84, a PEG ratio of 11.75 and a beta of 0.57.

Analysts Set New Price Targets

A number of research analysts have commented on ZM shares. Wall Street Zen raised Zoom Communications from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. William Blair reissued an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Benchmark reiterated a "buy" rating and set a $97.00 target price on shares of Zoom Communications in a research report on Tuesday, May 20th. Rosenblatt Securities raised their price target on Zoom Communications from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Finally, KeyCorp cut their price target on shares of Zoom Communications from $73.00 to $69.00 and set an "underweight" rating for the company in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $90.30.

Insider Buying and Selling at Zoom Communications

In other news, COO Aparna Bawa sold 10,528 shares of the 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 completion of the sale, the chief operating officer directly owned 1,978 shares of the company's stock, valued at $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total transaction of $2,519,749.89. The disclosure for this sale can be found here. Insiders sold 90,542 shares of company stock valued at $6,853,099 over the last 90 days. Insiders own 11.51% of the company's stock.

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.