Penserra Capital Management LLC Decreases Holdings in Zoom Communications, Inc. (NASDAQ:ZM)

Penserra Capital Management LLC lowered its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 88.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,284 shares of the company's stock after selling 9,901 shares during the period. Penserra Capital Management LLC's holdings in Zoom Communications were worth $93,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wynn Capital LLC lifted its position 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 worth $752,000 after purchasing an additional 160 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Zoom Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after purchasing an additional 168 shares during the period. New York State Teachers Retirement System lifted its position in shares of Zoom Communications by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after purchasing an additional 171 shares during the period. Siemens Fonds Invest GmbH lifted its position in shares of Zoom Communications by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after purchasing an additional 174 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Zoom Communications by 19.8% in the 1st quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock worth $78,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Communications Stock Performance

Shares of ZM traded down $1.65 during mid-day trading on Friday, reaching $73.40. The stock had a trading volume of 4,071,362 shares, compared to its average volume of 2,904,253. The business has a fifty day moving average of $79.26 and a 200 day moving average of $78.41. The firm has a market cap of $22.21 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 12.02 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.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its 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 the consensus estimate of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. Zoom Communications's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. On average, research analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZM shares. Scotiabank lifted their price objective on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. upped their price target on Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Citigroup dropped their price objective on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Wells Fargo & Company upped their target price 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. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $87.00.

Insider Buying and Selling

In other Zoom Communications news, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the transaction, the director owned 1,514 shares of the company's stock, valued at $109,870.98. This represents a 89.20% decrease in their position. The transaction 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 the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $76.78, for a total transaction of $200,933.26. Following the transaction, the director directly owned 4,728 shares of the company's stock, valued at $363,015.84. This trade represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,332 shares of company stock worth $7,670,566 in the last quarter. 11.51% of the stock is owned by 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.