Zoom Communications, Inc. (NASDAQ:ZM) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 88.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in shares of Zoom Communications in the first quarter worth approximately $42,000. Wayfinding Financial LLC purchased a new position in Zoom Communications in the first quarter worth about $25,000. IFM Investors Pty Ltd grew its stake in shares of Zoom Communications by 11.5% during the 1st quarter. IFM Investors Pty Ltd now owns 53,262 shares of the company's stock valued at $3,714,000 after purchasing an additional 5,493 shares during the period. GF Fund Management CO. LTD. grew its position in Zoom Communications by 277.2% during the first quarter. GF Fund Management CO. LTD. now owns 6,847 shares of the company's stock valued at $505,000 after buying an additional 5,032 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Zoom Communications by 18.5% in the 1st quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock worth $12,977,000 after purchasing an additional 27,430 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Activity

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $77.50, for a total transaction of $593,727.50. Following the sale, the insider owned 129,377 shares in the company, valued at $10,026,717.50. This represents a 5.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $77.17, for a total transaction of $190,995.75. Following the completion of the sale, the director directly owned 157,235 shares in the company, valued at approximately $12,133,824.95. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,773 shares of company stock valued at $1,775,358. 11.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. Benchmark reiterated a "buy" rating and set a $97.00 price target on shares of Zoom Communications in a report on Tuesday, May 20th. Citigroup reduced their target price on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Scotiabank upped their price objective on shares of Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Zoom Communications presently has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Trading Down 0.4%

NASDAQ:ZM traded down $0.29 during trading hours on Wednesday, hitting $74.44. 3,259,117 shares of the stock were exchanged, compared to its average volume of 2,580,478. The firm's fifty day moving average price is $79.12 and its 200 day moving average price is $78.27. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a market cap of $22.52 billion, a P/E ratio of 22.35, a P/E/G ratio of 12.26 and a beta of 0.68.

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

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.