Mission Wealth Management LP Has $509,000 Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

Mission Wealth Management LP lowered its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 7.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,895 shares of the company’s stock after selling 515 shares during the quarter. Mission Wealth Management LP’s holdings in Zoom Communications were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wynn Capital LLC grew its holdings in Zoom Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock valued at $752,000 after buying an additional 160 shares during the last quarter. Principal Securities Inc. grew its holdings in Zoom Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock valued at $64,000 after buying an additional 166 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Zoom Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock valued at $330,000 after buying an additional 168 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in Zoom Communications by 3.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock valued at $391,000 after buying an additional 174 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in Zoom Communications by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company’s stock valued at $3,303,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Communications Price Performance

ZM stock opened at $77.48 on Thursday. The business has a fifty day moving average price of $78.10 and a 200 day moving average price of $79.33. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 12.93 and a beta of 0.71.

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, 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 firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted $1.35 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction on Friday, June 13th. The stock was sold at an average price of $76.78, for a total transaction of $200,933.26. Following the completion of the sale, the director now directly owns 4,728 shares of the company’s stock, valued at $363,015.84. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Communications stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the sale, the director now directly owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,671 shares of company stock valued at $7,078,546. Company insiders own 11.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Rosenblatt Securities lifted their price objective on Zoom Communications from $90.00 to $100.00 and gave the stock a “buy” 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 on the stock in a report on Thursday, May 15th. JMP Securities reissued a “market perform” rating on shares of Zoom Communications in a report on Thursday, May 22nd. Stifel Nicolaus decreased their price objective on Zoom Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $87.00.

About Zoom Communications

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.