Zoom Communications, Inc. (NASDAQ:ZM) Stock Holdings Lowered by Penserra Capital Management LLC

Penserra Capital Management LLC reduced its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 88.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,284 shares of the company’s stock after selling 9,901 shares during the quarter. Penserra Capital Management LLC’s holdings in Zoom Communications were worth $93,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZM. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications in the first quarter worth approximately $25,000. Raiffeisen Bank International AG purchased a new position in shares of Zoom Communications in the fourth quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. Colonial Trust Co SC purchased a new position in shares of Zoom Communications in the fourth quarter worth approximately $32,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Zoom Communications in the first quarter worth approximately $42,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Stock Down 2.2%

Zoom Communications stock opened at $73.40 on Friday. The stock has a 50-day simple moving average of $79.26 and a 200 day simple moving average of $78.41. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 12.02 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM) last released 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. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. 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 business posted $1.35 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Activity

In other news, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the transaction, the director directly owned 1,514 shares in the company, valued at approximately $109,870.98. The trade was a 89.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 7,661 shares of the business’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the transaction, the insider owned 129,377 shares of the company’s stock, valued at $10,026,717.50. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 104,332 shares of company stock worth $7,670,566. Corporate insiders own 11.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Zoom Communications from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, May 22nd. Mizuho lowered their price objective on shares of Zoom Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Scotiabank boosted their price objective on shares of Zoom Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 16th. Rosenblatt Securities boosted their target price on shares of Zoom Communications from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Finally, Citigroup decreased their target price on shares of Zoom Communications from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Zoom Communications currently has a consensus rating of “Hold” and a consensus price target 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.