Moran Wealth Management LLC Invests $2.54 Million in Zoom Communications, Inc. (NASDAQ:ZM)

Moran Wealth Management LLC acquired a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 34,425 shares of the company's stock, valued at approximately $2,540,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wynn Capital LLC grew its holdings in Zoom Communications by 1.6% during the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after acquiring an additional 160 shares during the period. Principal Securities Inc. boosted its position in shares of Zoom Communications by 26.9% during the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after purchasing an additional 166 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Zoom Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after purchasing an additional 168 shares during the period. Siemens Fonds Invest GmbH grew its stake in 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 purchasing an additional 174 shares during the period. Finally, Blue Trust Inc. increased its holdings in Zoom Communications by 19.8% in the first quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock worth $78,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZM. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Benchmark reiterated a "buy" rating and issued a $97.00 price target on shares of Zoom Communications in a report on Tuesday, May 20th. Bank of America boosted their price objective on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Barclays reduced their price target on shares of Zoom Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Stock Performance

Shares of ZM traded up $0.34 during mid-day trading on Thursday, hitting $76.96. 3,430,586 shares of the company traded hands, compared to its average volume of 2,891,318. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 12.69 and a beta of 0.71. The stock has a 50-day moving average price of $78.68 and a two-hundred day moving average price of $79.10. Zoom Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $1.35 earnings per share. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 41,121 shares of Zoom Communications stock in a transaction that occurred on 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. Insiders sold 94,196 shares of company stock worth $6,885,843 over the last 90 days. 11.51% of the stock is owned by insiders.

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.