XTX Topco Ltd Acquires 22,399 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• XTX Topco Ltd has significantly increased its position in Zoom Communications by 388.4%, acquiring 28,166 shares worth $2,078,000 during the first quarter.
• Insiders at Zoom Communications have sold a total of 90,017 shares for approximately $6.8 million in recent months, indicating notable stock selling activity by company directors.
• Currently, Zoom Communications has a market cap of $22.46 billion with a consensus price target of $87.00 among analysts, with a "Hold" rating prevailing.

XTX Topco Ltd lifted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 388.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,166 shares of the company's stock after purchasing an additional 22,399 shares during the period. XTX Topco Ltd's holdings in Zoom Communications were worth $2,078,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ZM. Pictet Asset Management Holding SA boosted its holdings in shares of Zoom Communications by 78.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 170,451 shares of the company's stock worth $13,911,000 after purchasing an additional 74,844 shares during the period. Allstate Corp purchased a new stake in Zoom Communications in the fourth quarter worth about $587,000. Schroder Investment Management Group lifted its holdings in Zoom Communications by 504.9% in the fourth quarter. Schroder Investment Management Group now owns 127,374 shares of the company's stock worth $10,538,000 after buying an additional 106,318 shares during the period. Alliancebernstein L.P. lifted its holdings in Zoom Communications by 1.8% in the fourth quarter. Alliancebernstein L.P. now owns 375,652 shares of the company's stock worth $30,657,000 after buying an additional 6,803 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Zoom Communications by 24.4% in the fourth quarter. Franklin Resources Inc. now owns 412,616 shares of the company's stock worth $33,673,000 after buying an additional 80,834 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Communications Stock Down 4.2%

ZM stock traded down $3.08 during mid-day trading on Friday, hitting $70.97. The company had a trading volume of 3,358,248 shares, compared to its average volume of 3,285,192. The company has a market capitalization of $21.47 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 12.13 and a beta of 0.68. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a 50-day moving average price of $77.15 and a 200 day moving average price of $77.73.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its 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 firm had revenue of $1.17 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 EPS. As a group, analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 7,661 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the sale, the insider directly owned 129,377 shares of the company's stock, valued at $10,026,717.50. This represents a 5.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herbert Raymond Mcmaster sold 500 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the transaction, the director directly owned 10,901 shares in the company, valued at approximately $817,575. This trade represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,017 shares of company stock worth $6,804,703 over the last three months. 11.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Benchmark reiterated a "buy" rating and set a $97.00 target price on shares of Zoom Communications in a report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. KeyCorp assumed coverage on shares of Zoom Communications in a report on Friday, June 6th. They set an "underweight" rating and a $73.00 target price for the company. Finally, Piper Sandler lifted their target price on shares of Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.