Zoom Communications, Inc. (NASDAQ:ZM) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 201.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,304 shares of the company's stock after buying an additional 32,930 shares during the period. Crossmark Global Holdings Inc.'s holdings in Zoom Communications were worth $3,637,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC increased its position in shares of Zoom Communications by 31.9% in the 1st quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after purchasing an additional 1,076 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Zoom Communications by 15.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock valued at $880,000 after purchasing an additional 1,601 shares during the last quarter. Spire Wealth Management increased its position in shares of Zoom Communications by 990.6% in the 1st quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after purchasing an additional 1,268 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Zoom Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after purchasing an additional 168 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Zoom Communications by 22.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,706 shares of the company's stock valued at $1,675,000 after purchasing an additional 4,106 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $77.17, for a total value of $190,995.75. Following the completion of the sale, the director directly owned 157,235 shares in the company, valued at approximately $12,133,824.95. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the sale, the chief operating officer owned 1,978 shares of the company's stock, valued at approximately $143,583.02. This represents a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,671 shares of company stock valued at $7,076,838. Corporate insiders own 10.78% of the company's stock.

Zoom Communications Price Performance

Shares of ZM stock traded down $0.04 during mid-day trading on Wednesday, hitting $77.38. The stock had a trading volume of 2,939,955 shares, compared to its average volume of 2,909,946. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company's 50-day simple moving average is $79.40 and its 200-day simple moving average is $78.62. The firm has a market cap of $23.41 billion, a PE ratio of 23.24, a PEG ratio of 12.64 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 earnings per share. On average, analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ZM shares. Scotiabank increased their price objective on shares of Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research report on Friday, May 16th. Wells Fargo & Company increased their target price on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a research report on Thursday, May 22nd. Benchmark reaffirmed a "buy" rating and issued a $97.00 target price on shares of Zoom Communications in a research report on Tuesday, May 20th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $87.00.

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.