Zoom Communications, Inc. (NASDAQ:ZM) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in Zoom Communications by 7.6%, owning 201,199 shares worth approximately $14.8 million after purchasing an additional 14,126 shares.
• Zoom's recent earnings report showed an EPS of $1.43, exceeding analyst expectations, with a revenue of $1.17 billion for the quarter, reflecting a 2.9% year-over-year increase.
• An analyst upgrade from Needham & Company raised their rating on Zoom Communications from "hold" to "moderate buy" with a target price of $100.00, reflecting positive sentiment towards the stock's performance.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 7.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 201,199 shares of the company's stock after purchasing an additional 14,126 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of Zoom Communications worth $14,842,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ZM. Envestnet Asset Management Inc. raised its position in Zoom Communications by 11.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 29,147 shares of the company's stock valued at $2,379,000 after purchasing an additional 3,064 shares in the last quarter. Invesco Ltd. increased its stake in shares of Zoom Communications by 7.7% during the fourth quarter. Invesco Ltd. now owns 649,304 shares of the company's stock worth $52,990,000 after buying an additional 46,666 shares during the period. Sterling Capital Management LLC raised its holdings in Zoom Communications by 55.7% in the fourth quarter. Sterling Capital Management LLC now owns 15,630 shares of the company's stock valued at $1,276,000 after acquiring an additional 5,593 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Zoom Communications in the fourth quarter valued at approximately $219,000. Finally, Mariner LLC lifted its stake in Zoom Communications by 47.1% in the fourth quarter. Mariner LLC now owns 28,654 shares of the company's stock worth $2,339,000 after acquiring an additional 9,172 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Price Performance

Shares of NASDAQ ZM opened at $69.77 on Tuesday. The stock has a fifty day moving average price of $76.16 and a 200 day moving average price of $77.39. Zoom Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $21.11 billion, a PE ratio of 20.95, a P/E/G ratio of 18.73 and a beta of 0.68.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Communications in a research report on Thursday, May 22nd. Needham & Company LLC upgraded Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target on the stock in a research note on Thursday, May 22nd. Rosenblatt Securities lifted their price target on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley increased their price objective on Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Finally, Bank of America raised their target price on Zoom Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zoom Communications presently has a consensus rating of "Hold" and an average price target of $87.00.

Insider Transactions at Zoom Communications

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 500 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the transaction, the director owned 10,901 shares in the company, valued at approximately $817,575. This represents a 4.39% 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, insider Velchamy Sankarlingam sold 7,661 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the sale, the insider directly owned 129,377 shares of the company's stock, valued at approximately $10,026,717.50. This trade represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,542 shares of company stock valued at $6,609,623 over the last 90 days. Insiders own 10.78% 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.

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