Zoom Communications, Inc. $ZM Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Zoom Communications, acquiring an additional 68,699 shares to reach a total of 1,287,551 shares, worth approximately $94,983,000.
• Insider transactions included notable sales, with Velchamy Sankarlingam selling 7,661 shares and COO Aparna Bawa selling 10,528 shares, indicating a decrease in their ownership positions.
• Research analysts have mixed views on Zoom Communications, with target prices ranging from $84.00 to $100.00, highlighting a consensus rating of "Hold."

Raymond James Financial Inc. grew its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,287,551 shares of the company's stock after buying an additional 68,699 shares during the period. Raymond James Financial Inc. owned 0.42% of Zoom Communications worth $94,983,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Zoom Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock worth $1,829,249,000 after purchasing an additional 624,863 shares during the period. AQR Capital Management LLC boosted its stake in Zoom Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock worth $615,237,000 after purchasing an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Zoom Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after purchasing an additional 1,247,717 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Zoom Communications by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company's stock worth $340,642,000 after purchasing an additional 87,775 shares during the period. Finally, Northern Trust Corp boosted its stake in Zoom Communications by 3.7% during the 4th quarter. Northern Trust Corp now owns 1,779,423 shares of the company's stock worth $145,219,000 after purchasing an additional 63,458 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Communications Price Performance

Zoom Communications stock traded up $9.30 during mid-day trading on Friday, reaching $82.47. The company had a trading volume of 15,988,795 shares, compared to its average volume of 2,760,714. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The company has a market capitalization of $24.95 billion, a P/E ratio of 21.76, a P/E/G ratio of 19.15 and a beta of 0.68. The stock's 50-day simple moving average is $75.08 and its 200-day simple moving average is $76.71.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. Zoom Communications had a net margin of 24.99% and a return on equity of 11.95%. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the company posted $1.35 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Zacks Research cut shares of Zoom Communications from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Rosenblatt Securities raised their target price on shares of Zoom Communications from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wedbush restated an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $88.42.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the completion of the transaction, the director directly owned 5,875 shares of the company's stock, valued at approximately $439,802.50. This trade represents a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,542 shares of company stock valued at $6,609,623 in the last 90 days. 11.51% of the stock is owned by corporate 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.