Resona Asset Management Co. Ltd. Grows Position in Zoom Communications, Inc. (NASDAQ:ZM)

Resona Asset Management Co. Ltd. boosted its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 5.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,338 shares of the company’s stock after buying an additional 4,439 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Zoom Communications were worth $6,084,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Zoom Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. AQR Capital Management LLC grew its stake in shares of Zoom Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock worth $615,237,000 after acquiring an additional 373,509 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Zoom Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock worth $521,123,000 after acquiring an additional 1,247,717 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Zoom Communications by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company’s stock worth $340,642,000 after acquiring an additional 87,775 shares during the period. Finally, Northern Trust Corp boosted its stake in Zoom Communications by 3.7% in the 4th quarter. Northern Trust Corp now owns 1,779,423 shares of the company’s stock worth $145,219,000 after purchasing an additional 63,458 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Stock Performance

Shares of ZM stock opened at $73.14 on Friday. The firm has a market cap of $22.13 billion, a P/E ratio of 21.96, a P/E/G ratio of 18.81 and a beta of 0.68. Zoom Communications, Inc. has a fifty-two week low of $57.23 and a fifty-two week high of $92.80. The business’s 50 day moving average price is $75.44 and its 200-day moving average price is $77.12.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping 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 business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.35 EPS. As a group, equities analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Activity at Zoom Communications

In related news, Director Herbert Raymond Mcmaster sold 500 shares of Zoom Communications stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the sale, the director directly owned 10,901 shares in the company, valued at $817,575. The trade was a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the sale, the director owned 5,875 shares in the company, valued at $439,802.50. This represents a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,542 shares of company stock valued at $6,609,623 over the last ninety days. Insiders own 11.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Benchmark restated a “buy” rating and issued a $97.00 target price on shares of Zoom Communications in a research note on Tuesday, May 20th. Scotiabank raised their price target on Zoom Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 16th. Citigroup lowered their price target on Zoom Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, May 15th. Rosenblatt Securities raised their price target on Zoom Communications from $90.00 to $100.00 and gave the company a “buy” rating 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 investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.00.

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.