Transcend Capital Advisors LLC trimmed its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 22.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,773 shares of the company's stock after selling 7,574 shares during the quarter. Transcend Capital Advisors LLC's holdings in Zoom Communications were worth $1,975,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC lifted its position in shares of Zoom Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after acquiring an additional 282,645 shares in the last quarter. Norges Bank acquired a new stake in Zoom Communications during the 4th quarter valued at $751,908,000. AQR Capital Management LLC lifted its holdings in shares of Zoom Communications by 5.2% in the fourth 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 in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Zoom Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after buying an additional 1,247,717 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Zoom Communications by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after buying an additional 28,725 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Zoom Communications
In other Zoom Communications news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total value of $199,658.25. Following the completion of the sale, the director now owns 155,349 shares in the company, valued at approximately $12,532,003.83. This trade represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the sale, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,196 shares of company stock worth $6,885,843 in the last ninety days. 11.51% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on ZM shares. William Blair reissued an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Benchmark reiterated a "buy" rating and issued a $97.00 target price on shares of Zoom Communications in a report on Tuesday, May 20th. Piper Sandler increased their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Citigroup decreased their price target on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Finally, KeyCorp initiated coverage on shares of Zoom Communications in a research note on Friday, June 6th. They issued an "underweight" rating and a $73.00 price objective on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zoom Communications currently has a consensus rating of "Hold" and a consensus price target of $87.00.
View Our Latest Stock Analysis on Zoom Communications
Zoom Communications Price Performance
ZM stock opened at $78.38 on Friday. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 12.78 and a beta of 0.71. The company has a 50-day moving average of $78.93 and a two-hundred day moving average of $79.00. 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 announced its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 EPS. Equities analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.
Zoom Communications Profile
(
Free Report)
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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Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM - Free Report).
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