Capital Wealth Alliance LLC Trims Stock Position in Zoom Communications, Inc. $ZM

Capital Wealth Alliance LLC lessened its position in Zoom Communications, Inc. (NASDAQ:ZM) by 44.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,407 shares of the company’s stock after selling 2,740 shares during the period. Capital Wealth Alliance LLC’s holdings in Zoom Communications were worth $251,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Zoom Communications in the first quarter valued at approximately $25,000. SouthState Corp acquired a new position in shares of Zoom Communications in the first quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB raised 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 valued at $28,000 after buying an additional 246 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Communications in the fourth quarter valued at approximately $30,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Zoom Communications in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the completion of the sale, the director directly owned 5,875 shares of the company’s stock, valued at $439,802.50. The trade was a 80.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,542 shares of company stock valued at $6,609,623. 11.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZM. JPMorgan Chase & Co. boosted their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Zoom Communications in a research report on Thursday, May 22nd. Wall Street Zen lowered shares of Zoom Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Benchmark reaffirmed a “buy” rating and set a $97.00 price target on shares of Zoom Communications in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company upped their price target on shares of Zoom Communications from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Zoom Communications currently has a consensus rating of “Hold” and an average target price of $87.00.

Zoom Communications Stock Performance

Shares of ZM stock opened at $72.16 on Thursday. Zoom Communications, Inc. has a one year low of $59.35 and a one year high of $92.80. The company has a 50 day moving average price of $75.05 and a 200 day moving average price of $76.82. The firm has a market capitalization of $21.83 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 18.89 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $1.35 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

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.