Janney Montgomery Scott LLC Buys 4,106 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

Janney Montgomery Scott LLC lifted its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 22.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,706 shares of the company's stock after acquiring an additional 4,106 shares during the quarter. Janney Montgomery Scott LLC's holdings in Zoom Communications were worth $1,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Parkside Financial Bank & Trust grew its stake in shares of Zoom Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Communications in the fourth quarter worth $30,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after acquiring an additional 246 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Zoom Communications in the fourth quarter worth $32,000. Finally, MRP Capital Investments LLC grew its stake in shares of Zoom Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Communications Stock Performance

Shares of ZM stock opened at $76.96 on Friday. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $23.28 billion, a P/E ratio of 23.11, a P/E/G ratio of 12.72 and a beta of 0.71. The stock has a 50 day moving average price of $78.79 and a 200 day moving average price of $79.04.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. The business 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 previous year, the company posted $1.35 EPS. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Transactions at Zoom Communications

In other news, Director Janet Napolitano sold 2,617 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the sale, the director now owns 4,728 shares in the company, valued at $363,015.84. This represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. In the last three months, insiders sold 94,196 shares of company stock valued at $6,885,843. Corporate insiders own 11.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZM. William Blair reissued an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 target price on the stock in a report on Thursday, May 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Rosenblatt Securities increased 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 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, Zoom Communications currently has a consensus rating of "Hold" and an average target price of $87.00.

About Zoom Communications

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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