Kentucky Retirement Systems Insurance Trust Fund Takes Position in Zoom Communications, Inc. (NASDAQ:ZM)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZMFree Report) in the 1st quarter, HoldingsChannel.com reports. The firm bought 7,667 shares of the company’s stock, valued at approximately $566,000.

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in Zoom Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Zoom Communications in the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB lifted its stake in 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 acquiring an additional 246 shares in the last quarter. Colonial Trust Co SC purchased a new stake in Zoom Communications in the 4th quarter worth about $32,000. Finally, MRP Capital Investments LLC lifted 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 worth $49,000 after acquiring an additional 500 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 2,595 shares of Zoom Communications stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $80.26, for a total transaction of $208,274.70. Following the sale, the insider now owns 126,393 shares of the company’s stock, valued at approximately $10,144,302.18. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction that occurred 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 directly owns 4,728 shares in the company, valued at $363,015.84. The trade was a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,196 shares of company stock valued at $6,885,843 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZM. Rosenblatt Securities increased their price objective on Zoom Communications from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Zoom Communications in a research report on Thursday, May 22nd. Scotiabank upped their target price on Zoom Communications from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Friday, May 16th. Finally, Stifel Nicolaus dropped their target price on Zoom Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $87.00.

Get Our Latest Stock Analysis on ZM

Zoom Communications Stock Performance

Shares of NASDAQ ZM opened at $76.45 on Wednesday. The firm has a market cap of $23.13 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 12.83 and a beta of 0.71. The business’s 50-day simple moving average is $78.57 and its 200-day simple moving average is $79.12. Zoom Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Zoom Communications (NASDAQ:ZMGet Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.13. The firm had revenue of $1.17 billion for 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 company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 EPS. As a group, equities research analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

About Zoom Communications

(Free Report)

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.

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Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZMFree Report).

Institutional Ownership by Quarter for Zoom Communications (NASDAQ:ZM)

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