Invesco Ltd. Acquires 33,154 Shares of Zoom Communications, Inc. $ZM

Key Points

• Invesco Ltd. increased its stake in Zoom Communications by 5.1%, acquiring an additional 33,154 shares, bringing their total ownership to approximately $50.3 million.
• Several large investors have adjusted their holdings in Zoom, indicating strong institutional interest, with 66.54% of the stock owned by institutional investors.
• Analysts have provided mixed ratings on Zoom, with consensus showing a "Hold" rating and a target price of $87.00, signaling cautious optimism amid recent activity.

Invesco Ltd. raised its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 682,458 shares of the company's stock after buying an additional 33,154 shares during the quarter. Invesco Ltd. owned about 0.22% of Zoom Communications worth $50,345,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Wayfinding Financial LLC purchased a new position in Zoom Communications during the first quarter valued at $25,000. MassMutual Private Wealth & Trust FSB lifted 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 valued at $28,000 after buying an additional 246 shares during the period. Raiffeisen Bank International AG purchased a new position in Zoom Communications during the fourth quarter valued at $30,000. Colonial Trust Co SC purchased a new position in Zoom Communications during the fourth quarter valued at $32,000. Finally, Cloud Capital Management LLC purchased a new position in Zoom Communications during the first quarter valued at $42,000. 66.54% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Herbert Raymond Mcmaster sold 500 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the transaction, the director directly owned 10,901 shares of the company's stock, valued at approximately $817,575. This represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 10,528 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. The trade was a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,542 shares of company stock valued at $6,609,623 in the last three months. 10.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZM. Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Wall Street Zen downgraded Zoom Communications from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Royal Bank Of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Citigroup dropped their target price on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Trading Up 1.8%

NASDAQ:ZM opened at $73.14 on Monday. Zoom Communications, Inc. has a 12-month low of $57.23 and a 12-month high of $92.80. The stock has a 50-day moving average price of $75.44 and a 200 day moving average price of $76.98. The stock has a market capitalization of $22.13 billion, a P/E ratio of 21.96, a P/E/G ratio of 19.14 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the business posted $1.35 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. On average, research analysts predict that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

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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