Mizuho Markets Americas LLC Acquires 7,262 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Mizuho Markets Americas LLC increased its holdings in Zoom Communications by 74% in Q1, now owning 17,074 shares worth approximately $1.26 million.
• Zoom Communications reported $1.43 EPS for the last quarter, exceeding analyst estimates, with revenue of $1.17 billion, reflecting a 2.9% year-over-year increase.
• Wall Street analysts rate Zoom with a consensus of "Hold", with price targets ranging from $79 to $100 across various firms, illustrating mixed market sentiment.

Mizuho Markets Americas LLC lifted its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 74.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,074 shares of the company's stock after buying an additional 7,262 shares during the period. Mizuho Markets Americas LLC's holdings in Zoom Communications were worth $1,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in Zoom Communications in the first quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB raised its stake 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. Raiffeisen Bank International AG acquired a new stake in Zoom Communications during the 4th quarter valued at $30,000. Colonial Trust Co SC purchased a new position in shares of Zoom Communications during the 4th quarter valued at $32,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Zoom Communications during the 1st quarter valued at $42,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the transaction, the insider owned 129,377 shares of the company's stock, valued at $10,026,717.50. The trade was a 5.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 10,528 shares of the business's 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 position. The disclosure for this sale can be found here. Insiders have sold 87,542 shares of company stock valued at $6,609,623 in the last quarter. 10.78% of the stock is currently owned by company insiders.

Zoom Communications Stock Up 0.3%

Shares of ZM stock traded up $0.19 during trading hours on Tuesday, hitting $69.96. 3,089,019 shares of the company's stock traded hands, compared to its average volume of 3,084,080. Zoom Communications, Inc. has a 12 month low of $55.28 and a 12 month high of $92.80. The stock's 50 day simple moving average is $76.16 and its 200 day simple moving average is $77.39. The stock has a market cap of $21.17 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 18.26 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly 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 company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $1.35 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZM. Citigroup decreased their price target on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Rosenblatt Securities upped their price target on shares of Zoom Communications from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Mizuho decreased their price target on shares of Zoom Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Benchmark reaffirmed a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $87.00.

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.