Skandinaviska Enskilda Banken AB publ Has $11.49 Million Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Zoom Communications by 59.0%, acquiring an additional 57,818 shares to own a total of 155,801 shares valued at approximately $11.5 million.
• Corporate insiders have been selling shares, with COO Aparna Bawa and Director Jonathan Chadwick reducing their holdings significantly, indicating potential concerns about the company's future performance.
• Zoom Communications is currently trading with a market cap of $22.64 billion, and analysts have mixed views, with some adjusting price targets between $71.00 and $105.00, reflecting varying expectations for the stock's performance.

Skandinaviska Enskilda Banken AB publ raised its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 59.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,801 shares of the company's stock after purchasing an additional 57,818 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.05% of Zoom Communications worth $11,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Wynn Capital LLC boosted its stake in 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 purchasing an additional 160 shares during the period. New York State Teachers Retirement System boosted its stake in 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 purchasing an additional 171 shares during the period. Siemens Fonds Invest GmbH boosted its stake in Zoom Communications by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after purchasing an additional 174 shares during the period. Blue Trust Inc. boosted its stake in Zoom Communications by 19.8% in the 1st quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock worth $78,000 after purchasing an additional 175 shares during the period. Finally, Burns Matteson Capital Management LLC boosted its stake 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 worth $428,000 after purchasing an additional 177 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Communications

In related news, Director Herbert Raymond Mcmaster sold 500 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. Following the sale, the director owned 10,901 shares in the company, valued at approximately $817,575. This trade represents a 4.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $74.78, for a total transaction of $787,283.84. Following the completion of the sale, the chief operating officer owned 1,978 shares in the company, valued at $147,914.84. This represents a 84.18% 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 worth $6,804,703 in the last three months. Company insiders own 10.78% of the company's stock.

Zoom Communications Stock Down 1.1%

Shares of ZM traded down $0.81 during mid-day trading on Friday, hitting $74.82. 1,935,247 shares of the company's stock were exchanged, compared to its average volume of 3,443,612. Zoom Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock's 50-day simple moving average is $77.97 and its 200-day simple moving average is $77.89. The firm has a market cap of $22.64 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 12.26 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. Analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on ZM. Benchmark restated a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research note on Tuesday, May 20th. Morgan Stanley increased their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Mizuho reduced their price objective on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. KeyCorp began coverage on shares of Zoom Communications in a research note on Friday, June 6th. They set an "underweight" rating and a $73.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $87.00.

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.