American Century Companies Inc. Increases Position in Zoom Communications, Inc. $ZM

Key Points

• American Century Companies Inc. increased its stake in Zoom Communications by 1.9%, owning 264,069 shares valued at approximately $19.48 million as of the latest quarter.
• CEO Eric S. Yuan sold 33,691 shares for about $2.52 million, and insider sales totaled over $6.6 million in the last 90 days, while insiders only hold 11.51% of the stock.
• Zoom Communications reported $1.43 EPS for the last quarter, exceeding analysts' expectations and indicating a 2.9% revenue increase year-over-year.

American Century Companies Inc. grew its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 264,069 shares of the company's stock after acquiring an additional 4,893 shares during the quarter. American Century Companies Inc. owned about 0.09% of Zoom Communications worth $19,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZM. Wayfinding Financial LLC purchased a new stake in shares of Zoom Communications during the 1st quarter valued at $25,000. SouthState Corp purchased a new stake in shares of Zoom Communications during the 1st quarter valued at $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after purchasing an additional 246 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Communications during the 4th quarter valued at $30,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Zoom Communications during the 1st quarter valued at $31,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herbert Raymond Mcmaster sold 500 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the transaction, the director owned 10,901 shares in the company, valued at $817,575. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,542 shares of company stock worth $6,609,623 in the last 90 days. 11.51% of the stock is owned by insiders.

Zoom Communications Price Performance

Shares of Zoom Communications stock opened at $82.47 on Friday. The firm has a fifty day moving average price of $75.08 and a 200 day moving average price of $76.64. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The stock has a market cap of $24.95 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 21.58 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a net margin of 24.99% and a return on equity of 11.95%. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, equities analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Wall Street Analysts Forecast Growth

ZM has been the subject of several analyst reports. Citigroup decreased their price objective on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Piper Sandler reissued a "neutral" rating and set a $85.00 price objective on shares of Zoom Communications in a report on Friday. Zacks Research lowered shares of Zoom Communications from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Robert W. Baird dropped their price objective on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Stifel Nicolaus dropped their price objective on shares of Zoom Communications from $85.00 to $80.00 and set a "hold" rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $89.00.

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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