Charles Schwab Investment Management Inc. Raises Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Zoom Communications by 1.5%, owning a total of 1,387,497 shares valued at approximately $102.36 million.
• Zoom reported earnings per share (EPS) of $1.43 for the latest quarter, exceeding analysts' expectations of $1.30, alongside a revenue of $1.17 billion.
• Insider activity saw COO Aparna Bawa and CEO Eric S. Yuan sell significant shares of the company, indicating 10.78% of stock is currently owned by insiders.

Charles Schwab Investment Management Inc. raised its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,387,497 shares of the company's stock after purchasing an additional 20,442 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.45% of Zoom Communications worth $102,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Wayfinding Financial LLC bought a new stake in Zoom Communications during the 1st quarter valued at about $25,000. Raiffeisen Bank International AG bought a new stake in Zoom Communications during the 4th quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB increased its position in 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 period. Colonial Trust Co SC purchased a new position in Zoom Communications during the 4th quarter valued at about $32,000. Finally, Cloud Capital Management LLC purchased a new position in Zoom Communications during the 1st quarter valued at about $42,000. Institutional investors own 66.54% of the company's stock.

Zoom Communications Stock Performance

ZM stock traded down $0.53 during trading on Thursday, reaching $71.86. The company had a trading volume of 1,931,923 shares, compared to its average volume of 3,052,333. The firm has a 50-day simple moving average of $75.78 and a 200-day simple moving average of $77.30. The company has a market cap of $21.74 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 18.95 and a beta of 0.68. Zoom Communications, Inc. has a twelve month low of $57.23 and a twelve month high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 22.31% and a return on equity of 11.08%. Zoom Communications's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. Sell-side analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Analyst Ratings Changes

ZM has been the topic of a number of research reports. Rosenblatt Securities raised their target price on shares of Zoom Communications from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. KeyCorp initiated coverage on shares of Zoom Communications in a research report on Friday, June 6th. They set an "underweight" rating and a $73.00 target price on the stock. Citigroup cut their target price on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Wall Street Zen downgraded shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, William Blair reissued 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 issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $87.00.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 500 shares of Zoom Communications stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the director directly owned 10,901 shares in the company, valued at approximately $817,575. The trade was a 4.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the sale, the director owned 5,875 shares of the company's stock, valued at approximately $439,802.50. The trade was a 80.97% decrease in their ownership of the stock. 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 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.