Moran Wealth Management LLC Takes Position in Zoom Communications, Inc. (NASDAQ:ZM)

Moran Wealth Management LLC bought a new stake in Zoom Communications, Inc. (NASDAQ:ZM) in the 1st quarter, Holdings Channel.com reports. The firm bought 34,425 shares of the company’s stock, valued at approximately $2,540,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust lifted its holdings in Zoom Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Communications during the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 buying an additional 246 shares during the period. Colonial Trust Co SC acquired a new position in Zoom Communications in the 4th quarter valued at about $32,000. Finally, MRP Capital Investments LLC grew its stake in Zoom Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after buying an additional 500 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total value of $199,658.25. Following the completion of the transaction, the director now directly owns 155,349 shares in the company, valued at approximately $12,532,003.83. This represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janet Napolitano sold 2,617 shares of the business’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the sale, the director now owns 4,728 shares in the company, valued at $363,015.84. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,196 shares of company stock valued at $6,885,843. 11.51% of the stock is currently owned by insiders.

Zoom Communications Price Performance

Shares of NASDAQ:ZM opened at $76.62 on Thursday. The company’s 50 day simple moving average is $78.68 and its 200 day simple moving average is $79.10. Zoom Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market capitalization of $23.18 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 12.69 and a beta of 0.71.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. The company had revenue of $1.17 billion during 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%. Zoom Communications’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 EPS. As a group, analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ZM shares. JMP Securities restated a “market perform” rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Wall Street Zen cut Zoom Communications from a “strong-buy” rating to a “buy” rating in a report on Monday. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price target on shares of Zoom Communications in a research note on Thursday, May 22nd. Barclays lowered their price objective on Zoom Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, William Blair reissued an “outperform” rating on shares of Zoom Communications in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.00.

About Zoom Communications

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.