Zoom Communications, Inc. $ZM Position Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in Zoom Communications, Inc. (NASDAQ:ZM) by 54.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 447,561 shares of the company’s stock after selling 524,922 shares during the period. Assenagon Asset Management S.A.’s holdings in Zoom Communications were worth $35,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its holdings in shares of Zoom Communications by 2.0% in the 4th quarter. Kestra Advisory Services LLC now owns 5,928 shares of the company’s stock valued at $512,000 after buying an additional 116 shares during the period. New York State Teachers Retirement System raised its stake in Zoom Communications by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 24,263 shares of the company’s stock worth $2,094,000 after acquiring an additional 123 shares during the period. Root Financial Partners LLC lifted its holdings in Zoom Communications by 33.5% in the fourth quarter. Root Financial Partners LLC now owns 542 shares of the company’s stock worth $47,000 after acquiring an additional 136 shares during the last quarter. MAI Capital Management lifted its holdings in Zoom Communications by 34.7% in the third quarter. MAI Capital Management now owns 579 shares of the company’s stock worth $48,000 after acquiring an additional 149 shares during the last quarter. Finally, Prudential PLC boosted its stake in Zoom Communications by 5.7% in the fourth quarter. Prudential PLC now owns 3,040 shares of the company’s stock valued at $262,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Communications Stock Up 4.3%

Shares of ZM opened at $86.48 on Friday. The firm has a 50-day moving average price of $96.80 and a 200 day moving average price of $88.87. The firm has a market capitalization of $25.36 billion, a PE ratio of 12.70, a P/E/G ratio of 4.58 and a beta of 1.01. Zoom Communications, Inc. has a 52-week low of $69.15 and a 52-week high of $114.74.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. Zoom Communications’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. Zoom Communications has set its FY 2027 guidance at 5.960-6.000 EPS and its Q2 2027 guidance at 1.450-1.470 EPS. On average, equities analysts expect that Zoom Communications, Inc. will post 4.08 EPS for the current year.

Insider Transactions at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total value of $653,188.80. Following the sale, the insider owned 141,971 shares of the company’s stock, valued at approximately $12,130,002.24. The trade was a 5.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric S. Yuan sold 12,100 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total value of $1,350,481.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 156,638 shares of company stock worth $13,900,194 over the last 90 days. 8.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZM. BTIG Research upped their target price on Zoom Communications from $100.00 to $125.00 and gave the company a “buy” rating in a report on Friday, May 22nd. KeyCorp upgraded Zoom Communications from an “underweight” rating to a “sector weight” rating in a research report on Friday, May 22nd. Needham & Company LLC raised their target price on Zoom Communications from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Royal Bank Of Canada boosted their price target on shares of Zoom Communications from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Finally, Mizuho boosted their price target on shares of Zoom Communications from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.33.

Zoom Communications Company Profile

Zoom Video Communications, Inc (commonly referred to as Zoom) is a provider of cloud-based communications and collaboration solutions. The company’s platform supports video conferencing, voice calling, instant messaging, webinars and large-scale virtual events, and meeting room systems, marketed to businesses, educational institutions, government organizations and individual users. Zoom’s product lineup includes Zoom Meetings, Zoom Phone, Zoom Rooms, Zoom Video Webinars and Zoom Chat, and the company offers integrations and extensions through a developer marketplace and third-party apps.

Founded in 2011 by Eric S.