Zoom Communications, Inc. (NASDAQ:ZM) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its position in Zoom Communications, Inc. (NASDAQ:ZM) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,708 shares of the company’s stock after selling 181 shares during the quarter. International Assets Investment Management LLC’s holdings in Zoom Communications were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. grew its stake in shares of Zoom Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after purchasing an additional 166 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Zoom Communications by 768.1% in the fourth quarter. Principal Financial Group Inc. now owns 148,488 shares of the company’s stock worth $12,118,000 after purchasing an additional 131,383 shares during the period. Truist Financial Corp grew its position in Zoom Communications by 5.1% in the 4th quarter. Truist Financial Corp now owns 6,120 shares of the company’s stock valued at $499,000 after buying an additional 297 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Zoom Communications by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 96,400 shares of the company’s stock valued at $7,867,000 after buying an additional 2,100 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Zoom Communications during the 4th quarter worth about $966,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. 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 note on Friday, May 16th. Benchmark restated a “buy” rating and set a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. KeyCorp started 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. Wall Street Zen lowered shares of Zoom Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 23rd. Finally, Citigroup decreased their price target on shares of Zoom Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zoom Communications presently has an average rating of “Hold” and a consensus price target of $87.00.

Zoom Communications Stock Performance

ZM opened at $78.38 on Friday. The company has a market cap of $23.71 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 12.78 and a beta of 0.71. The stock has a 50-day moving average of $78.93 and a 200-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) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $1.35 earnings per share. Zoom Communications’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts predict that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Insider Transactions at Zoom Communications

In other Zoom Communications news, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $75.43, for a total value of $186,689.25. Following the completion of the transaction, the director now owns 160,299 shares of the company’s stock, valued at $12,091,353.57. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Aparna Bawa sold 16,099 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,196 shares of company stock worth $6,885,843. Insiders own 11.51% of the company’s stock.

Zoom Communications 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.