Aberdeen Group plc Grows Position in Zoom Communications, Inc. $ZM

Key Points

• Aberdeen Group plc increased its holdings in Zoom Communications by 200.1%, acquiring a total of 229,926 shares, valued at approximately $16.96 million.
• Zoom Communications reported an EPS of $1.43 for its latest quarterly earnings, surpassing analyst expectations of $1.30, with a revenue of $1.17 billion.
• Zoom's stock has a consensus rating of "Hold" from analysts, with an average price target of $87.00, despite one analyst recommending a strong buy.

Aberdeen Group plc boosted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 200.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 229,926 shares of the company's stock after acquiring an additional 153,312 shares during the quarter. Aberdeen Group plc owned about 0.08% of Zoom Communications worth $16,962,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications in the first quarter valued at $25,000. SouthState Corp purchased a new position in shares of Zoom Communications in the first quarter valued at $25,000. MassMutual Private Wealth & Trust FSB increased its position 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 valued at $28,000 after buying an additional 246 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Zoom Communications in the fourth quarter valued at $30,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in Zoom Communications during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Communications Price Performance

NASDAQ ZM opened at $73.64 on Tuesday. The business's 50-day simple moving average is $75.31 and its 200-day simple moving average is $76.89. The firm has a market capitalization of $22.28 billion, a P/E ratio of 22.11, a P/E/G ratio of 19.14 and a beta of 0.68. Zoom Communications, Inc. has a 1-year low of $58.49 and a 1-year high of $92.80.

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

Insider Activity

In related news, COO Aparna Bawa sold 10,528 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. The trade was a 84.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Janet Napolitano sold 2,617 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the transaction, the director directly owned 4,728 shares in the company, valued at $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,542 shares of company stock worth $6,609,623 in the last ninety days. 10.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ZM has been the subject of a number of recent research reports. JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Needham & Company LLC upgraded Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a research report on Thursday, May 22nd. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price objective on shares of Zoom Communications in a research report on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $95.00 price objective on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $87.00.

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.

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