Primecap Management Co. CA Has $92.21 Million Stock Holdings in Zoom Communications, Inc. $ZM

Primecap Management Co. CA trimmed its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,182,450 shares of the company’s stock after selling 20,600 shares during the quarter. Primecap Management Co. CA’s holdings in Zoom Communications were worth $92,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ZM. Acadian Asset Management LLC lifted its position in shares of Zoom Communications by 41.1% during the 2nd quarter. Acadian Asset Management LLC now owns 3,769,480 shares of the company’s stock worth $293,909,000 after buying an additional 1,097,333 shares during the period. Robeco Institutional Asset Management B.V. grew its position 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 valued at $166,651,000 after acquiring an additional 830,393 shares during the period. Vanguard Group Inc. raised its stake 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 in the last quarter. Nuveen LLC bought a new position in shares of Zoom Communications during the first quarter valued at $37,646,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Zoom Communications in the 2nd quarter valued at $38,163,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Stock Performance

NASDAQ:ZM opened at $80.71 on Thursday. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 11.09 and a beta of 0.79. The stock’s fifty day moving average price is $82.94 and its two-hundred day moving average price is $79.66. Zoom Communications, Inc. has a 52-week low of $64.41 and a 52-week high of $92.80.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Thursday, August 21st. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.39). Zoom Communications had a return on equity of 11.91% and a net margin of 24.99%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZM. Citigroup lifted their price target on shares of Zoom Communications from $85.00 to $94.00 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Zoom Communications in a research note on Monday. UBS Group initiated coverage on Zoom Communications in a report on Monday, October 20th. They issued a “neutral” rating and a $85.00 target price on the stock. Morgan Stanley assumed coverage on Zoom Communications in a report on Tuesday, October 21st. They set an “equal weight” rating and a $85.00 price target for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Zoom Communications in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Zoom Communications currently has a consensus rating of “Hold” and an average price target of $92.35.

Insider Activity

In related news, CEO Eric S. Yuan sold 73,378 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $82.73, for a total transaction of $6,070,561.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $2,784,392.00. Following the completion of the transaction, the chief financial officer directly owned 20,539 shares in the company, valued at approximately $1,684,198. The trade was a 62.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 394,848 shares of company stock worth $32,754,712. Corporate insiders own 11.51% of the company’s stock.

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.