OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 70.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,118 shares of the company's stock after selling 14,526 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Zoom Communications were worth $451,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in ZM. Wayfinding Financial LLC purchased a new stake in Zoom Communications during the first quarter valued at about $25,000. Raiffeisen Bank International AG purchased a new stake in Zoom Communications during the fourth quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB raised its position in Zoom Communications by 177.0% during the first 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 in the last quarter. Colonial Trust Co SC purchased a new stake in Zoom Communications during the fourth quarter valued at about $32,000. Finally, Cloud Capital Management LLC purchased a new stake in Zoom Communications during the first quarter valued at about $42,000. Institutional investors own 66.54% of the company's stock.
Zoom Communications Trading Down 0.2%
Zoom Communications stock traded down $0.12 during trading hours on Friday, hitting $74.48. 771,856 shares of the stock traded hands, compared to its average volume of 2,913,732. The firm's 50-day moving average price is $78.93 and its two-hundred day moving average price is $78.19. The company has a market cap of $22.53 billion, a PE ratio of 22.37, a PEG ratio of 12.19 and a beta of 0.68. Zoom Communications, Inc. has a one year low of $55.06 and a one 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 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The business's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 EPS. On average, sell-side analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.
Insider Transactions at Zoom Communications
In other news, Director Herbert Raymond Mcmaster sold 500 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the sale, the director directly owned 10,901 shares of the company's stock, valued at $817,575. The trade was a 4.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 33,691 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,492 shares of company stock worth $6,991,392. Company insiders own 11.51% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated a "neutral" rating and set a $87.00 price target on shares of Zoom Communications in a research report on Thursday, May 22nd. Scotiabank lifted their price objective on Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Friday, May 16th. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Piper Sandler lifted their price objective on Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $87.00.
Read Our Latest Analysis on Zoom Communications
About Zoom Communications
(
Free Report)
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.
See Also
Before you consider Zoom Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zoom Communications wasn't on the list.
While Zoom Communications currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
