Zoom Communications, Inc. (NASDAQ:ZM) Shares Acquired by Cwm LLC

CWM LLC increased its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,273 shares of the company's stock after purchasing an additional 4,560 shares during the period. CWM LLC's holdings in Zoom Communications were worth $5,996,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in Zoom Communications during the 1st quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after purchasing an additional 246 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Zoom Communications in the 4th quarter worth approximately $30,000. Colonial Trust Co SC bought a new position in shares of Zoom Communications in the 4th quarter worth approximately $32,000. Finally, Cloud Capital Management LLC bought a new position in shares of Zoom Communications in the 1st quarter worth approximately $42,000. Institutional investors own 66.54% of the company's stock.

Insider Buying and Selling

In other news, Director Herbert Raymond Mcmaster sold 500 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the transaction, the director directly owned 10,901 shares in the company, valued at approximately $817,575. This represents a 4.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider owned 129,377 shares of the company's stock, valued at approximately $10,026,717.50. This represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,492 shares of company stock worth $6,991,392 over the last quarter. Corporate insiders own 11.51% of the company's stock.

Zoom Communications Stock Performance

NASDAQ ZM traded up $0.02 during trading hours on Friday, reaching $74.62. The stock had a trading volume of 503,543 shares, compared to its average volume of 2,912,230. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market cap of $22.58 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 12.19 and a beta of 0.68. The stock has a fifty day moving average of $78.93 and a 200 day moving average of $78.19.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZM. Wall Street Zen upgraded shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. KeyCorp started coverage on shares of Zoom Communications in a report on Friday, June 6th. They issued an "underweight" rating and a $73.00 target price for the company. Piper Sandler increased their target price on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Morgan Stanley increased their target price on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Finally, Citigroup reduced their target price on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.