Blair William & Co. IL Has $7.54 Million Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Blair William & Co. IL increased its stake in Zoom Communications by 14.1% during the 1st quarter, acquiring an additional 12,663 shares, bringing its total holdings to 102,215 shares valued at approximately $7.54 million.
• Several analysts have revised their price targets for Zoom, with Morgan Stanley increasing theirs to $85.00 while Mizuho decreased it to $71.00, resulting in a mixed outlook with an average target price of $87.00.
• Insider trading activity included significant sales by Director Jonathan Chadwick and CEO Eric S. Yuan, with Chadwick selling 25,000 shares and Yuan selling 33,691 shares, indicating a notable reduction in their ownership stakes.

Blair William & Co. IL boosted its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 14.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 102,215 shares of the company's stock after buying an additional 12,663 shares during the period. Blair William & Co. IL's holdings in Zoom Communications were worth $7,540,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ZM. Wayfinding Financial LLC bought a new position in shares of Zoom Communications during the first quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB grew its position in Zoom Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after buying an additional 246 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Zoom Communications during the 4th quarter worth $30,000. Colonial Trust Co SC acquired a new position in Zoom Communications in the 4th quarter valued at $32,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Zoom Communications during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Analysts Set New Price Targets

ZM has been the topic of a number of recent analyst reports. Citigroup dropped their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Bank of America raised their target price on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. 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. Royal Bank Of Canada reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities raised their target price on Zoom Communications from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Price Performance

Shares of Zoom Communications stock traded down $1.57 during trading on Thursday, hitting $71.60. The company's stock had a trading volume of 2,438,316 shares, compared to its average volume of 3,296,169. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 19.15 and a beta of 0.68. Zoom Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a 50-day moving average price of $76.57 and a two-hundred day moving average price of $77.54.

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 for the quarter, beating the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $1.35 earnings per share. On average, equities analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Zoom Communications news, COO Aparna Bawa sold 10,528 shares of Zoom Communications stock in a transaction that occurred on Monday, July 14th. The stock was 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 approximately $147,914.84. The trade was a 84.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,542 shares of company stock worth $6,609,623. Corporate insiders own 11.51% of the company's stock.

Zoom Communications Company 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.