Kestra Private Wealth Services LLC Purchases New Position in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Kestra Private Wealth Services LLC acquired a new stake in Zoom Communications, Inc. by purchasing 4,178 shares valued at approximately $308,000 during the first quarter.
• Analysts have mixed opinions on Zoom's stock with Scotiabank raising their price target to $85.00 while Mizuho lowered it to $71.00, resulting in a consensus rating of "Hold".
• Zoom's recent earnings report showed a net margin of 22.31% and revenue of $1.17 billion, reflecting a 2.9% increase compared to the same quarter last year.

Kestra Private Wealth Services LLC purchased a new stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,178 shares of the company's stock, valued at approximately $308,000.

Several other large investors have also recently added to or reduced their stakes in the company. Wynn Capital LLC raised its position in Zoom Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after purchasing an additional 160 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Zoom Communications by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock valued at $1,792,000 after buying an additional 171 shares during the period. Siemens Fonds Invest GmbH raised its position in shares of Zoom Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after acquiring an additional 174 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Zoom Communications by 19.8% during the first quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock valued at $78,000 after acquiring an additional 175 shares during the period. Finally, Burns Matteson Capital Management LLC lifted its stake in shares of Zoom Communications by 3.1% during the first quarter. Burns Matteson Capital Management LLC now owns 5,801 shares of the company's stock valued at $428,000 after acquiring an additional 177 shares during the period. 66.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Scotiabank lifted their price objective on Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Friday, May 16th. Mizuho lowered their price target on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Royal Bank Of Canada reissued an "outperform" rating and set a $95.00 price target on shares of Zoom Communications in a research note on Thursday, May 22nd. Wells Fargo & Company raised their price objective on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Citigroup dropped their target price on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. One research 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Stock Down 1.1%

Shares of ZM opened at $74.82 on Monday. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market capitalization of $22.64 billion, a P/E ratio of 22.47, a P/E/G ratio of 12.26 and a beta of 0.68. The company has a 50 day moving average of $77.97 and a 200-day moving average of $77.89.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released 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. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $1.35 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 10,528 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the completion of the transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herbert Raymond Mcmaster sold 500 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the transaction, the director 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 disclosure for this sale can be found here. Insiders have sold 90,017 shares of company stock valued at $6,804,703 in the last quarter. 10.78% of the stock is currently owned by corporate insiders.

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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