Wealth Enhancement Advisory Services LLC Lowers Position in Zoom Communications, Inc. (NASDAQ:ZM)

Wealth Enhancement Advisory Services LLC lessened its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,152 shares of the company’s stock after selling 991 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Zoom Communications were worth $3,257,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FMR LLC raised its stake in Zoom Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company’s stock valued at $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank purchased a new stake in Zoom Communications during the fourth quarter valued at $751,908,000. AQR Capital Management LLC raised its stake in Zoom Communications by 5.2% during 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. raised its stake in Zoom Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Zoom Communications by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company’s stock valued at $377,429,000 after purchasing an additional 28,725 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Communications

In related news, Director Janet Napolitano sold 2,617 shares of Zoom Communications 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 sale, the director now owns 4,728 shares of the company’s stock, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Communications stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $75.43, for a total transaction of $186,689.25. Following the completion of the sale, the director now directly owns 160,299 shares in the company, valued at $12,091,353.57. This represents a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,196 shares of company stock valued at $6,885,843 in the last 90 days. 11.51% of the stock is currently owned by company insiders.

Zoom Communications Price Performance

Shares of NASDAQ ZM 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 PEG ratio of 12.78 and a beta of 0.71. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm’s 50 day simple moving average is $78.93 and its 200-day simple moving average is $79.00.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $1.35 EPS. Analysts anticipate that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZM has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Zoom Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, May 15th. Mizuho reduced their target price on shares of Zoom Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their target price on shares of Zoom Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. 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 target price on the stock. Finally, Rosenblatt Securities increased their target price on shares of Zoom Communications from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zoom Communications has a consensus rating of “Hold” and an average target price of $87.00.

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.