Zoom Communications, Inc. (NASDAQ:ZM) Position Trimmed by Prakash Investment Advisors LLC

Prakash Investment Advisors LLC decreased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,010 shares of the company's stock after selling 6,000 shares during the period. Prakash Investment Advisors LLC's holdings in Zoom Communications were worth $443,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Truist Financial Corp boosted its position in shares of Zoom Communications by 5.1% during the fourth quarter. Truist Financial Corp now owns 6,120 shares of the company's stock worth $499,000 after buying an additional 297 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Zoom Communications by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 96,400 shares of the company's stock valued at $7,867,000 after acquiring an additional 2,100 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Zoom Communications during the 4th quarter valued at $966,000. Parkside Financial Bank & Trust boosted its position in Zoom Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares during the period. Finally, Wiser Advisor Group LLC grew its stake in shares of Zoom Communications by 13.0% in the fourth quarter. Wiser Advisor Group LLC now owns 4,995 shares of the company's stock worth $408,000 after purchasing an additional 575 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Buying and Selling at Zoom Communications

In other news, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction on Friday, June 13th. The stock was sold at an average price of $76.78, for a total transaction of $200,933.26. Following the transaction, the director now owns 4,728 shares in the company, valued at approximately $363,015.84. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of Zoom Communications stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $143,583.02. This represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,196 shares of company stock valued at $6,885,843. Corporate insiders own 11.51% of the company's stock.

Zoom Communications Stock Performance

NASDAQ ZM opened at $78.38 on Friday. The stock has a market capitalization of $23.71 billion, a P/E ratio of 23.54, a P/E/G ratio of 13.01 and a beta of 0.71. Zoom Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The business's fifty day moving average is $78.93 and its two-hundred day moving average is $78.95.

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, beating the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The firm's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 earnings per share. On average, research analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZM. Wells Fargo & Company lifted their price objective on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Mizuho dropped their price target on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler upped their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Benchmark reiterated a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research note on Tuesday, May 20th. Finally, JMP Securities reissued a "market perform" rating on shares of Zoom Communications 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $87.00.

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.

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