PNC Financial Services Group Inc. Purchases 1,155 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

PNC Financial Services Group Inc. grew its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 28.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,195 shares of the company’s stock after acquiring an additional 1,155 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Zoom Communications were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wynn Capital LLC boosted 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 last quarter. New York State Teachers Retirement System boosted 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 last quarter. Siemens Fonds Invest GmbH boosted 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 last quarter. Blue Trust Inc. boosted 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 last quarter. Finally, Burns Matteson Capital Management LLC boosted 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 last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Communications Price Performance

Shares of NASDAQ ZM opened at $71.86 on Friday. Zoom Communications, Inc. has a one year low of $57.23 and a one year high of $92.80. The business’s fifty day moving average price is $75.59 and its 200-day moving average price is $77.23. The stock has a market capitalization of $21.74 billion, a PE ratio of 21.58, a P/E/G ratio of 18.95 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 EPS. As a group, equities analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 target price on shares of Zoom Communications in a research report on Thursday, May 22nd. Citigroup cut their target price on Zoom Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, May 15th. Bank of America boosted their price objective on Zoom Communications from $79.00 to $84.00 and gave the stock a “neutral” rating in a research 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 on the stock in a research report on Thursday, May 22nd. Finally, JMP Securities reissued a “market perform” rating on shares of Zoom Communications in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zoom Communications presently has an average rating of “Hold” and a consensus target price of $87.00.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the company’s stock in a transaction dated 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 directly owned 129,377 shares in the company, valued at $10,026,717.50. This represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the company’s stock in a transaction dated 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. Insiders have sold a total of 87,542 shares of company stock worth $6,609,623 in the last three months. 11.51% of the stock is currently owned by corporate insiders.

Zoom Communications Company 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.