US Bancorp DE Grows Position in Zoom Communications, Inc. (NASDAQ:ZM)

US Bancorp DE raised its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 32.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,618 shares of the company’s stock after purchasing an additional 1,123 shares during the quarter. US Bancorp DE’s holdings in Zoom Communications were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Wynn Capital LLC increased its position in shares of Zoom Communications by 1.6% during the first quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock valued at $752,000 after buying an additional 160 shares during the period. New York State Teachers Retirement System increased its position in shares of Zoom Communications by 0.7% during the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company’s stock valued at $1,792,000 after buying an additional 171 shares during the period. Siemens Fonds Invest GmbH increased its position in shares of Zoom Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company’s stock valued at $391,000 after buying an additional 174 shares during the period. Blue Trust Inc. increased its position in shares of Zoom Communications by 19.8% during the first quarter. Blue Trust Inc. now owns 1,059 shares of the company’s stock valued at $78,000 after buying an additional 175 shares during the period. Finally, Burns Matteson Capital Management LLC increased its position in shares of Zoom Communications by 3.1% during the first quarter. Burns Matteson Capital Management LLC now owns 5,801 shares of the company’s stock valued at $428,000 after buying an additional 177 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Stock Performance

NASDAQ:ZM opened at $72.39 on Thursday. The firm has a market cap of $21.90 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 18.31 and a beta of 0.68. Zoom Communications, Inc. has a fifty-two week low of $56.12 and a fifty-two week high of $92.80. The business has a 50 day moving average price of $75.78 and a 200-day moving average price of $77.30.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Research analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Wall Street Analysts Forecast Growth

ZM has been the topic of several analyst reports. Piper Sandler upped their price target on Zoom Communications from $77.00 to $85.00 and gave the company a “neutral” rating in a research 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 report on Thursday, May 22nd. Needham & Company LLC raised Zoom Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 price objective for the company in a report on Thursday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, William Blair reissued an “outperform” rating on shares of Zoom Communications in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.00.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 7,661 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total transaction of $593,727.50. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 10,528 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the sale, the chief operating officer directly owned 1,978 shares of the company’s stock, valued at approximately $147,914.84. This trade represents a 84.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,542 shares of company stock valued at $6,609,623. Corporate insiders own 11.51% of the company’s stock.

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.