AlphaQuest LLC Lowers Stock Position in Zoom Communications, Inc. $ZM

Key Points

• AlphaQuest LLC has reduced its stake in Zoom Communications by 84.1%, now holding just 906 shares valued at $67,000.
• Institutional investors, including Vanguard Group and T. Rowe Price, have increased their holdings in Zoom, with Vanguard owning over $1.8 billion worth of stock.
• Insider activity has been notable, with two executives selling a total of 90,542 shares recently, reflecting decreased confidence among certain company insiders.

AlphaQuest LLC trimmed its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 84.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 906 shares of the company's stock after selling 4,786 shares during the quarter. AlphaQuest LLC's holdings in Zoom Communications were worth $67,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Zoom Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after buying an additional 624,863 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Zoom Communications by 0.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock worth $473,732,000 after purchasing an additional 36,210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Zoom Communications by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company's stock worth $340,642,000 after purchasing an additional 87,775 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Zoom Communications by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company's stock worth $123,912,000 after purchasing an additional 16,819 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Zoom Communications by 119.5% in the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock valued at $103,670,000 after purchasing an additional 765,092 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zoom Communications news, Director Janet Napolitano sold 2,617 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director owned 4,728 shares in the company, valued at $363,015.84. This represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the completion of the transaction, the director owned 5,875 shares of the company's stock, valued at $439,802.50. This represents a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,542 shares of company stock valued at $6,853,099 over the last ninety days. Company insiders own 11.51% of the company's stock.

Zoom Communications Trading Up 1.1%

NASDAQ:ZM traded up $0.89 during midday trading on Friday, hitting $83.68. 2,864,862 shares of the company were exchanged, compared to its average volume of 3,988,583. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80. The company has a market capitalization of $25.32 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 11.66 and a beta of 0.57. The company has a fifty day simple moving average of $75.92 and a 200 day simple moving average of $76.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Rosenblatt Securities increased their target price on shares of Zoom Communications from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Finally, Wall Street Zen raised shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zoom Communications has an average rating of "Hold" and an average price target of $90.30.

Zoom Communications Company Profile

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.