Zoom Communications, Inc. (NASDAQ:ZM) Shares Sold by Avory & Company LLC

Avory & Company LLC cut its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 295,833 shares of the company's stock after selling 6,757 shares during the period. Zoom Communications accounts for about 13.4% of Avory & Company LLC's investment portfolio, making the stock its 3rd biggest position. Avory & Company LLC owned approximately 0.10% of Zoom Communications worth $21,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wynn Capital LLC boosted its stake in shares of Zoom Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock valued at $752,000 after purchasing an additional 160 shares during the last quarter. Principal Securities Inc. lifted its holdings in Zoom Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after buying an additional 166 shares during the period. PNC Financial Services Group Inc. boosted its stake in Zoom Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after acquiring an additional 168 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in Zoom Communications by 3.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after acquiring an additional 174 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Zoom Communications by 19.8% during the 1st quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock valued at $78,000 after acquiring an additional 175 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Stock Performance

Shares of Zoom Communications stock opened at $76.96 on Friday. The firm has a market cap of $23.28 billion, a PE ratio of 23.11, a P/E/G ratio of 12.72 and a beta of 0.71. The business's 50 day simple moving average is $78.79 and its 200 day simple moving average is $79.04. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. As a group, equities research analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ZM shares. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price target on shares of Zoom Communications in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their target price on Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Piper Sandler boosted their target price on Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Bank of America increased their price target on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley lifted their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Communications has an average rating of "Hold" and a consensus price target of $87.00.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 16,099 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $143,583.02. This represents a 89.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the transaction, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,196 shares of company stock valued at $6,885,843 in the last three months. 11.51% of the stock is currently owned by corporate insiders.

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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