18,001 Shares in Zoom Communications, Inc. (NASDAQ:ZM) Purchased by Kentucky Retirement Systems

Kentucky Retirement Systems acquired a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,001 shares of the company's stock, valued at approximately $1,328,000.

Several other institutional investors have also added to or reduced their stakes in the company. Wynn Capital LLC lifted its stake in Zoom Communications by 1.6% in the first quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after purchasing an additional 160 shares during the last quarter. Principal Securities Inc. lifted its stake in Zoom Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company's stock worth $64,000 after purchasing an additional 166 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Zoom Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after purchasing an additional 168 shares during the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of Zoom Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock valued at $391,000 after acquiring an additional 174 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Zoom Communications by 19.8% during the first quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock valued at $78,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Activity

In other Zoom Communications news, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $72.18, for a total value of $2,968,113.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $75.43, for a total transaction of $186,689.25. Following the completion of the sale, the director now directly owns 160,299 shares in the company, valued at approximately $12,091,353.57. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,196 shares of company stock valued at $6,885,843 over the last ninety days. 10.78% of the stock is currently owned by insiders.

Zoom Communications Trading Down 1.1%

Shares of ZM stock opened at $76.45 on Wednesday. The business's fifty day simple moving average is $78.57 and its 200-day simple moving average is $79.12. The company has a market cap of $23.13 billion, a PE ratio of 22.96, a PEG ratio of 12.83 and a beta of 0.71. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZM. KeyCorp began coverage on shares of Zoom Communications in a research note on Friday, June 6th. They set an "underweight" rating and a $73.00 price target for the company. Scotiabank lifted their price target on shares of Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. Barclays decreased their price target on shares of Zoom Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. UBS Group decreased their price target on shares of Zoom Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Benchmark reaffirmed a "buy" rating and set a $97.00 price target on shares of Zoom Communications in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.

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