Brio Consultants LLC Makes New $366,000 Investment in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Brio Consultants LLC has invested approximately $366,000 in Zoom Communications, acquiring 4,959 shares during the first quarter.
• Institutional investors now own 66.54% of Zoom Communications' stock, reflecting strong institutional interest in the company.
• Several analysts have recently adjusted their price targets for Zoom Communications, with new targets ranging from $80.00 to $95.00, indicating optimistic future performance.

Brio Consultants LLC bought a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,959 shares of the company's stock, valued at approximately $366,000.

A number of other large investors also recently bought and sold shares of ZM. American Century Companies Inc. lifted its holdings in shares of Zoom Communications by 10.3% in the 4th quarter. American Century Companies Inc. now owns 259,176 shares of the company's stock worth $21,151,000 after purchasing an additional 24,261 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Zoom Communications by 11.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 187,073 shares of the company's stock worth $15,471,000 after purchasing an additional 19,121 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in shares of Zoom Communications by 22.6% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 27,271 shares of the company's stock worth $2,226,000 after purchasing an additional 5,026 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Zoom Communications by 78.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 170,451 shares of the company's stock worth $13,911,000 after purchasing an additional 74,844 shares during the last quarter. Finally, DnB Asset Management AS lifted its holdings in shares of Zoom Communications by 2.8% in the 4th quarter. DnB Asset Management AS now owns 44,658 shares of the company's stock worth $3,645,000 after purchasing an additional 1,237 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Communications

In related news, CEO Eric S. Yuan sold 33,691 shares of Zoom Communications stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the completion of the sale, the director directly owned 5,875 shares in the company, valued at approximately $439,802.50. This represents a 80.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,017 shares of company stock worth $6,804,703. 10.78% of the stock is currently owned by company insiders.

Zoom Communications Trading Down 1.1%

Shares of Zoom Communications stock opened at $74.82 on Monday. The company has a market capitalization of $22.64 billion, a PE ratio of 22.47, a PEG ratio of 12.26 and a beta of 0.68. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock's fifty day simple moving average is $77.97 and its 200 day simple moving average is $77.89.

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

Analysts Set New Price Targets

Several brokerages have weighed in on ZM. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Morgan Stanley lifted their target price on Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their target price on 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 reiterated an "outperform" rating and set a $95.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their target price on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $87.00.

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.

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