Swedbank AB Cuts Holdings in Zoom Communications, Inc. $ZM

Key Points

• Swedbank AB has reduced its holdings in Zoom Communications by 4.8%, now owning 78,267 shares worth approximately $5.77 million.
• Several hedge funds have adjusted their positions in Zoom, with Vanguard Group increasing its stake by 2.6%, now holding 24.8 million shares valued at $1.83 billion.
• Street analysts have varied opinions on Zoom's stock, with a consensus rating of Hold and a price target of $90.30, while Robert W. Baird recently cut their price target from $100 to $95.

Swedbank AB lowered its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,267 shares of the company's stock after selling 3,980 shares during the quarter. Swedbank AB's holdings in Zoom Communications were worth $5,774,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ZM. Vanguard Group Inc. boosted its holdings in shares of Zoom Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock worth $1,829,249,000 after purchasing an additional 624,863 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Zoom Communications by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock worth $473,732,000 after buying an additional 36,210 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Zoom Communications by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company's stock worth $340,642,000 after buying an additional 87,775 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Zoom Communications by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company's stock valued at $123,912,000 after acquiring an additional 16,819 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Zoom Communications by 119.5% during the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock worth $103,670,000 after acquiring an additional 765,092 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZM. Robert W. Baird cut their price objective on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Wedbush reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Zoom Communications in a research note on Friday, August 22nd. Zacks Research downgraded Zoom Communications from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. William Blair restated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, KeyCorp reduced their price target on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $90.30.

Insider Transactions at Zoom Communications

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 2,000 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $83.00, for a total value of $166,000.00. Following the sale, the director directly owned 7,901 shares of the company's stock, valued at approximately $655,783. The trade was a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $83.40, for a total value of $206,415.00. Following the transaction, the director owned 155,119 shares of the company's stock, valued at $12,936,924.60. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,400 shares of company stock worth $6,871,114. Company insiders own 11.51% of the company's stock.

Zoom Communications Price Performance

Shares of NASDAQ ZM opened at $84.63 on Tuesday. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The firm has a 50-day moving average of $76.75 and a 200 day moving average of $76.69. The stock has a market cap of $25.60 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 11.82 and a beta of 0.57.

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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