41,527 Shares in Zoom Communications, Inc. (NASDAQ:ZM) Bought by Montag A & Associates Inc.

Montag A & Associates Inc. purchased a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 41,527 shares of the company's stock, valued at approximately $3,063,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Zoom Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after buying an additional 282,645 shares in the last quarter. Norges Bank bought a new stake in Zoom Communications during the 4th quarter worth approximately $751,908,000. AQR Capital Management LLC increased its holdings in Zoom Communications by 5.2% during the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after purchasing an additional 373,509 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Zoom Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Zoom Communications by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Insider Activity at Zoom Communications

In other 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 completion of the transaction, the insider owned 129,377 shares of the company's stock, valued at $10,026,717.50. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Janet Napolitano sold 2,617 shares of the company's 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 completion of the transaction, the director owned 4,728 shares of the company's stock, valued at $363,015.84. The trade was a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,492 shares of company stock valued at $6,991,392 over the last quarter. 10.78% of the stock is owned by company insiders.

Zoom Communications Stock Performance

Zoom Communications stock opened at $74.85 on Monday. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm's 50-day simple moving average is $78.80 and its 200 day simple moving average is $78.09. The stock has a market cap of $22.65 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 12.26 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. Zoom Communications's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.35 earnings per share. As a group, analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZM shares. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $95.00 target price on shares of Zoom Communications in a research report on Thursday, May 22nd. KeyCorp began coverage on Zoom Communications in a research note on Friday, June 6th. They set an "underweight" rating and a $73.00 price target on the stock. Citigroup lowered their price objective on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Finally, 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 report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.

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