Versor Investments LP Acquires New Holdings in Zoom Communications, Inc. $ZM

Key Points

• Versor Investments LP has acquired a new stake in Zoom Communications, Inc., purchasing 7,100 shares valued at approximately $524,000 in the 1st quarter.
• Recent trading activity indicates that insiders are selling significant shares, with over 87,500 shares sold by insiders worth around $6.6 million in the last 90 days.
• Analysts have mixed opinions on Zoom's stock, with an average rating of "Hold" and a price target average of $87.00.

Versor Investments LP purchased a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,100 shares of the company's stock, valued at approximately $524,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ZM. Vanguard Group Inc. increased its holdings in Zoom Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after buying an additional 624,863 shares during the period. AQR Capital Management LLC increased its holdings in Zoom Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after buying an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Zoom Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after buying an additional 1,247,717 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Zoom Communications by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company's stock valued at $340,642,000 after buying an additional 87,775 shares during the period. Finally, Northern Trust Corp increased its holdings in Zoom Communications by 3.7% in the 4th quarter. Northern Trust Corp now owns 1,779,423 shares of the company's stock valued at $145,219,000 after buying an additional 63,458 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 7,661 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total transaction of $593,727.50. Following the completion of the transaction, the insider directly owned 129,377 shares in the company, valued at approximately $10,026,717.50. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,542 shares of company stock valued at $6,609,623. 11.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ZM has been the subject of several recent analyst reports. Wall Street Zen lowered Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price objective on shares of Zoom Communications in a research note on Thursday, May 22nd. JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a research note on Friday. Rosenblatt Securities increased their price objective on Zoom Communications from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wedbush reiterated an "outperform" rating and set a $95.00 price objective on shares of Zoom Communications in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Zoom Communications presently has an average rating of "Hold" and a consensus price target of $88.42.

Zoom Communications Stock Up 12.7%

ZM traded up $9.30 during trading on Friday, hitting $82.47. The company's stock had a trading volume of 15,988,795 shares, compared to its average volume of 2,760,714. The firm's 50 day moving average price is $75.08 and its two-hundred day moving average price is $76.71. Zoom Communications, Inc. has a 12 month low of $64.41 and a 12 month high of $92.80. The stock has a market capitalization of $24.95 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 19.15 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data 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. Zoom Communications had a return on equity of 11.95% and a net margin of 24.99%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned $1.35 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Zoom Communications Company 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.