Nan Fung Trinity HK Ltd. Makes New Investment in Zoom Communications, Inc. (NASDAQ:ZM)

Nan Fung Trinity HK Ltd. bought a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM) during the 1st quarter, HoldingsChannel reports. The firm bought 285,700 shares of the company’s stock, valued at approximately $21,076,000. Zoom Communications comprises approximately 3.3% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 9th largest holding.

Several other institutional investors have also recently made changes to their positions in ZM. Wayfinding Financial LLC purchased a new stake in shares of Zoom Communications during the first quarter worth $25,000. MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $28,000 after purchasing an additional 246 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Zoom Communications in the fourth quarter worth $30,000. Colonial Trust Co SC bought a new position in shares of Zoom Communications in the fourth quarter worth $32,000. Finally, Cloud Capital Management LLC bought a new position in shares of Zoom Communications in the first quarter worth $42,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Communications Trading Up 0.8%

Zoom Communications stock opened at $75.39 on Tuesday. The firm has a 50-day moving average of $77.81 and a 200-day moving average of $77.86. The firm has a market cap of $22.81 billion, a P/E ratio of 22.64, a P/E/G ratio of 12.26 and a beta of 0.68. Zoom Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

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

Insiders Place Their Bets

In other Zoom Communications news, COO Aparna Bawa sold 10,528 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the completion of the sale, the chief operating officer directly owned 1,978 shares in the company, valued at $147,914.84. This trade represents a 84.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 7,661 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $77.50, for a total transaction of $593,727.50. Following the completion of the sale, the insider owned 129,377 shares of the company’s stock, valued at $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,017 shares of company stock valued at $6,804,703 over the last ninety days. 10.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ZM has been the topic of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Communications in a report on Thursday, May 22nd. Piper Sandler upped their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. KeyCorp initiated coverage on shares of Zoom Communications in a report on Friday, June 6th. They issued an “underweight” rating and a $73.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Communications in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.00.

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.