Charles Schwab Investment Management Inc. Increases Holdings in Zoom Communications, Inc. (NASDAQ:ZM)

Charles Schwab Investment Management Inc. lifted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387,497 shares of the company’s stock after acquiring an additional 20,442 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.45% of Zoom Communications worth $102,356,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Zoom Communications during the 1st quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Zoom Communications by 177.0% during 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 last quarter. Raiffeisen Bank International AG acquired a new position in shares of Zoom Communications during the 4th quarter worth approximately $30,000. Colonial Trust Co SC acquired a new position in shares of Zoom Communications during the 4th quarter worth approximately $32,000. Finally, Cloud Capital Management LLC acquired a new position in shares of Zoom Communications during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Communications Trading Up 0.3%

Shares of NASDAQ ZM opened at $69.96 on Wednesday. Zoom Communications, Inc. has a 12-month low of $55.28 and a 12-month high of $92.80. The company has a market cap of $21.17 billion, a P/E ratio of 21.01, a P/E/G ratio of 18.26 and a beta of 0.68. The stock has a fifty day moving average price of $75.94 and a 200 day moving average price of $77.33.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating 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 firm 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 firm earned $1.35 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZM has been the subject of several research reports. KeyCorp initiated coverage on Zoom Communications in a research report on Friday, June 6th. They set an “underweight” rating and a $73.00 price objective for the company. Bank of America lifted 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. Morgan Stanley lifted their price objective on Zoom Communications from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target on Zoom Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $97.00 price target on shares of Zoom Communications in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.00.

Insider Activity at Zoom Communications

In other news, COO Aparna Bawa sold 10,528 shares of the firm’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the completion of the sale, the chief operating officer directly owned 1,978 shares in the company, valued at $147,914.84. This trade represents a 84.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the firm’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,542 shares of company stock valued at $6,609,623. 10.78% of the stock is currently owned by 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.