Zoom Communications, Inc. (NASDAQ:ZM) Stock Holdings Trimmed by Avory & Company LLC

Avory & Company LLC cut its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,833 shares of the company's stock after selling 6,757 shares during the period. Zoom Communications comprises approximately 13.4% of Avory & Company LLC's investment portfolio, making the stock its 3rd largest holding. Avory & Company LLC owned 0.10% of Zoom Communications worth $21,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ZM. FMR LLC increased its position in shares of Zoom Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the last quarter. Norges Bank purchased a new stake in shares of Zoom Communications during the 4th quarter valued at $751,908,000. AQR Capital Management LLC increased its position in shares of Zoom Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after purchasing an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Zoom Communications by 24.3% during 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 purchasing an additional 1,247,717 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Zoom Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Stock Performance

NASDAQ:ZM traded down $0.40 during mid-day trading on Monday, reaching $77.98. The stock had a trading volume of 3,626,208 shares, compared to its average volume of 2,889,151. The firm has a 50 day moving average price of $79.08 and a two-hundred day moving average price of $78.85. The stock has a market capitalization of $23.59 billion, a P/E ratio of 23.42, a P/E/G ratio of 13.01 and a beta of 0.71. Zoom Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. The business 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 business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 EPS. Research analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Insiders Place Their Bets

In other Zoom Communications news, COO Aparna Bawa sold 16,099 shares of Zoom Communications 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 transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at $143,583.02. The trade was a 89.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director directly owned 4,728 shares in the company, valued at $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,196 shares of company stock worth $6,885,843. 10.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ZM shares. Scotiabank raised their target price on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research report on Friday, May 16th. Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a report on Thursday, May 22nd. Rosenblatt Securities lifted their price objective on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Benchmark reissued a "buy" rating and issued a $97.00 price objective on shares of Zoom Communications in a report on Tuesday, May 20th. One 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $87.00.

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.