Zoom Communications, Inc. (NASDAQ:ZM) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 44.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,652 shares of the company’s stock after selling 5,358 shares during the period. M&T Bank Corp’s holdings in Zoom Communications were worth $491,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in 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 purchasing an additional 282,645 shares during the last quarter. Norges Bank purchased a new position in shares of Zoom Communications in the 4th quarter valued at about $751,908,000. AQR Capital Management LLC increased its holdings in shares of Zoom Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after acquiring an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Zoom Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 worth $377,429,000 after purchasing an additional 28,725 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zoom Communications

In related news, Director Herbert Raymond Mcmaster sold 500 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. Following the sale, the director owned 10,901 shares in the company, valued at approximately $817,575. This trade represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value 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 trade represents a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,492 shares of company stock worth $6,991,392 in the last quarter. Insiders own 11.51% of the company’s stock.

Zoom Communications Price Performance

ZM opened at $74.44 on Thursday. The business has a 50 day simple moving average of $79.04 and a 200-day simple moving average of $78.25. The stock has a market capitalization of $22.52 billion, a P/E ratio of 22.35, a P/E/G ratio of 12.24 and a beta of 0.68. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings results 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. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. Research analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZM. Needham & Company LLC raised shares of Zoom Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 price objective on the stock in a report on Thursday, May 22nd. Morgan Stanley increased their price objective on Zoom Communications from $79.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, May 22nd. Citigroup decreased their price objective on Zoom Communications from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, May 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, JMP Securities reissued a “market perform” rating on shares of Zoom Communications in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Communications has a consensus rating of “Hold” and an average target price of $87.00.

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.