Caliber Wealth Management LLC KS Makes New Investment in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Caliber Wealth Management LLC KS acquired 3,375 shares of Zoom Communications, Inc. (NASDAQ: ZM) valued at approximately $249,000 in the first quarter.
• Insider trading activity includes Director Jonathan Chadwick selling 25,000 shares, resulting in an 80.97% decrease in his position, while insiders sold a total of 90,017 shares worth over $6.8 million in the last three months.
• Zoom Communications experienced a stock decline of 1.1%, with current trading around $74.82 and a market capitalization of $22.64 billion.

Caliber Wealth Management LLC KS 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 filing with the Securities and Exchange Commission. The institutional investor bought 3,375 shares of the company's stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZM. American Century Companies Inc. grew its stake 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 buying an additional 24,261 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Zoom Communications by 54.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,273 shares of the company's stock worth $430,000 after buying an additional 1,860 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 buying an additional 19,121 shares during the last quarter. Elo Mutual Pension Insurance Co grew its stake 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 buying an additional 5,026 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Zoom Communications in the 4th quarter worth approximately $751,908,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Communications

In other Zoom Communications news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was 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 owned 5,875 shares in the company, valued at approximately $439,802.50. This represents a 80.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Herbert Raymond Mcmaster sold 500 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the sale, the director owned 10,901 shares of the company's stock, valued at $817,575. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,017 shares of company stock worth $6,804,703 over the last three months. 10.78% of the stock is currently owned by insiders.

Zoom Communications Price Performance

Shares of NASDAQ:ZM traded down $0.81 during midday trading on Friday, hitting $74.82. The company had a trading volume of 1,935,247 shares, compared to its average volume of 3,443,612. The company has a market cap of $22.64 billion, a price-to-earnings 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 company has a fifty day moving average of $77.97 and a two-hundred day moving average of $77.89.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data 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 during 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 was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 EPS. Research analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JMP Securities restated a "market perform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. KeyCorp initiated coverage on Zoom Communications in a research report on Friday, June 6th. They issued an "underweight" rating and a $73.00 price objective on the stock. Citigroup lowered their price objective on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Bank of America upped their price objective on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Scotiabank upped their price objective on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.