National Pension Service Acquires 8,274 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

National Pension Service boosted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 622,358 shares of the company's stock after buying an additional 8,274 shares during the period. National Pension Service owned approximately 0.20% of Zoom Communications worth $45,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ZM. Wayfinding Financial LLC bought a new stake in shares of Zoom Communications in the first quarter worth about $25,000. SouthState Corp bought a new position in shares of Zoom Communications during the 1st quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Zoom Communications by 177.0% during the 1st 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 period. Raiffeisen Bank International AG bought a new position in shares of Zoom Communications during the 4th quarter worth approximately $30,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in Zoom Communications during the 1st quarter worth approximately $31,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Trading Down 0.7%

Shares of NASDAQ ZM opened at $71.86 on Friday. The stock has a fifty day simple moving average of $75.59 and a two-hundred day simple moving average of $77.23. Zoom Communications, Inc. has a 1-year low of $57.23 and a 1-year high of $92.80. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 18.95 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.17 billion. During the same period last year, the company earned $1.35 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Transactions at Zoom Communications

In related news, insider Velchamy Sankarlingam sold 7,661 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the sale, the insider owned 129,377 shares in the company, valued at approximately $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,542 shares of company stock valued at $6,609,623. 11.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on ZM shares. JPMorgan Chase & Co. lifted their price objective on Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Wells Fargo & Company boosted their price objective on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Needham & Company LLC upgraded Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target on the stock in a research report on Thursday, May 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price objective on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $95.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Zoom Communications has a consensus rating of "Hold" and a consensus 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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