Illinois Municipal Retirement Fund lessened its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM – Free Report) by 3.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 264,921 shares of the company’s stock after selling 10,047 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Zoom Communications were worth $22,860,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH grew its stake in shares of Zoom Communications by 15.6% during the fourth quarter. Allianz Asset Management GmbH now owns 2,112,815 shares of the company’s stock worth $182,315,000 after purchasing an additional 285,626 shares during the period. Motley Fool Asset Management LLC lifted its stake in Zoom Communications by 35.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 27,909 shares of the company’s stock valued at $2,408,000 after buying an additional 7,306 shares during the period. Brand Asset Management Group Inc. boosted its holdings in Zoom Communications by 13.4% during the fourth quarter. Brand Asset Management Group Inc. now owns 3,024 shares of the company’s stock worth $261,000 after buying an additional 358 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its position in shares of Zoom Communications by 45.3% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 42,702 shares of the company’s stock worth $3,685,000 after buying an additional 13,316 shares during the period. Finally, Waddell & Associates LLC grew its position in shares of Zoom Communications by 67.5% during the 4th quarter. Waddell & Associates LLC now owns 9,216 shares of the company’s stock worth $795,000 after buying an additional 3,713 shares during the period. Institutional investors own 66.54% of the company’s stock.
Zoom Communications Price Performance
NASDAQ:ZM opened at $93.96 on Thursday. The business’s 50-day simple moving average is $95.51 and its 200-day simple moving average is $88.57. Zoom Communications, Inc. has a fifty-two week low of $69.15 and a fifty-two week high of $114.74. The stock has a market capitalization of $27.55 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 5.37 and a beta of 1.01.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on ZM shares. Sanford C. Bernstein lowered their price target on Zoom Communications from $90.00 to $88.00 and set a “market perform” rating for the company in a research note on Thursday, February 26th. Mizuho boosted their price objective 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. Cantor Fitzgerald upped their target price on shares of Zoom Communications from $87.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Jefferies Financial Group increased their target price on shares of Zoom Communications from $105.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, May 20th. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $109.33.
Check Out Our Latest Stock Report on ZM
Insider Activity at Zoom Communications
In related news, Director Santiago Subotovsky sold 5,274 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $109.78, for a total value of $578,979.72. Following the completion of the transaction, the director directly owned 137,608 shares of the company’s stock, valued at approximately $15,106,606.24. This represents a 3.69% decrease in their position. The sale was disclosed in a document filed 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, COO Aparna Bawa sold 12,886 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $87.62, for a total value of $1,129,071.32. Following the transaction, the chief operating officer owned 1,978 shares of the company’s stock, valued at approximately $173,312.36. This trade represents a 86.69% decrease in their position. 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 156,638 shares of company stock worth $13,900,194 over the last three months. 11.51% of the stock is currently owned by insiders.
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.
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