Mediolanum International Funds Ltd Sells 9,798 Shares of Zoom Communications, Inc. $ZM

Mediolanum International Funds Ltd reduced its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197,625 shares of the company’s stock after selling 9,798 shares during the quarter. Mediolanum International Funds Ltd owned about 0.07% of Zoom Communications worth $15,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. Vanguard Group Inc. boosted its holdings in Zoom Communications by 0.6% in the second quarter. Vanguard Group Inc. now owns 24,951,437 shares of the company’s stock valued at $1,945,713,000 after acquiring an additional 154,783 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Zoom Communications by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock valued at $473,732,000 after purchasing an additional 36,210 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Zoom Communications by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,795,307 shares of the company’s stock valued at $373,504,000 after purchasing an additional 23,910 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Zoom Communications by 41.1% during the second quarter. Acadian Asset Management LLC now owns 3,769,480 shares of the company’s stock valued at $293,909,000 after buying an additional 1,097,333 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in Zoom Communications by 63.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,137,093 shares of the company’s stock worth $166,651,000 after buying an additional 830,393 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho upped their target price on Zoom Communications from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. Robert W. Baird lowered their price objective on Zoom Communications from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 22nd. Citigroup upped their target price on shares of Zoom Communications from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. Piper Sandler reissued a “neutral” rating and set a $85.00 price objective on shares of Zoom Communications in a research note on Friday, August 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.35.

Zoom Communications Stock Up 0.3%

Shares of ZM opened at $78.63 on Friday. The company has a market capitalization of $23.79 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 10.70 and a beta of 0.79. The firm has a 50 day moving average of $82.71 and a 200 day moving average of $79.65. Zoom Communications, Inc. has a twelve month low of $64.41 and a twelve month high of $92.80.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Thursday, August 21st. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.39). Zoom Communications had a net margin of 24.99% and a return on equity of 11.91%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the business posted $1.39 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michelle Chang sold 33,956 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $82.00, for a total value of $2,784,392.00. Following the sale, the chief financial officer owned 20,539 shares in the company, valued at approximately $1,684,198. This trade represents a 62.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 73,378 shares of Zoom Communications stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $82.73, for a total transaction of $6,070,561.94. The disclosure for this sale is available in the SEC filing. Insiders sold 393,848 shares of company stock worth $32,674,712 in the last three months. 11.51% of the stock is currently owned by company insiders.

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.