Zoom Communications, Inc. $ZM Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,796,797 shares of the company’s stock after selling 377,228 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.24% of Zoom Communications worth $280,090,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Zoom Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock worth $1,829,249,000 after acquiring an additional 624,863 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Zoom Communications by 0.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock worth $473,732,000 after acquiring an additional 36,210 shares during the period. Dimensional Fund Advisors LP grew its holdings in Zoom Communications by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company’s stock worth $123,912,000 after acquiring an additional 16,819 shares during the period. Victory Capital Management Inc. grew its holdings in Zoom Communications by 119.5% during the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company’s stock worth $103,670,000 after acquiring an additional 765,092 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Zoom Communications by 13.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,399,652 shares of the company’s stock worth $103,252,000 after acquiring an additional 161,751 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZM has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an “equal weight” rating in a 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 report on Thursday, May 22nd. Benchmark reissued a “buy” rating and issued a $97.00 price objective on shares of Zoom Communications in a report on Tuesday, May 20th. Wall Street Zen raised Zoom Communications from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 30th. Finally, Royal Bank Of Canada raised their price objective on Zoom Communications from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.30.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 7,661 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the transaction, the insider owned 129,377 shares in the company, valued at $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Janet Napolitano sold 2,617 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director owned 4,728 shares in the company, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,422 shares of company stock valued at $6,851,239. 11.51% of the stock is owned by corporate insiders.

Zoom Communications Trading Down 2.2%

Shares of ZM opened at $83.77 on Thursday. The firm has a market cap of $25.34 billion, a P/E ratio of 22.10, a PEG ratio of 12.05 and a beta of 0.57. The stock’s 50 day moving average is $76.35 and its two-hundred day moving average is $76.48. Zoom Communications, Inc. has a 12 month low of $64.41 and a 12 month high of $92.80.

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.