Banco Bilbao Vizcaya Argentaria S.A. Purchases 8,117 Shares of Zoom Communications, Inc. $ZM

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Zoom Communications by 4.3%, holding 196,809 shares valued at approximately $14.47 million as of the latest quarter.
• Several hedge funds, including Vanguard Group Inc. and T. Rowe Price Investment Management Inc., also boosted their positions in Zoom, contributing to institutional investors owning 66.54% of the company's stock.
• Analysts have a consensus rating of "Hold" for Zoom Communications, with price targets ranging from $73.00 to $87.00, indicating a cautious outlook on the stock.

Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196,809 shares of the company's stock after purchasing an additional 8,117 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned about 0.06% of Zoom Communications worth $14,466,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Korea Investment CORP lifted its holdings in Zoom Communications by 20.2% during the 1st quarter. Korea Investment CORP now owns 192,062 shares of the company's stock valued at $14,168,000 after purchasing an additional 32,300 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Zoom Communications by 277.8% in the first quarter. Brooklyn Investment Group now owns 442 shares of the company's stock worth $33,000 after acquiring an additional 325 shares during the last quarter. Versor Investments LP bought a new position in shares of Zoom Communications in the first quarter worth about $524,000. Algert Global LLC raised its stake in shares of Zoom Communications by 18.5% in the first quarter. Algert Global LLC now owns 5,001 shares of the company's stock worth $369,000 after acquiring an additional 780 shares during the last quarter. Finally, Corient IA LLC bought a new position in shares of Zoom Communications in the first quarter worth about $295,000. 66.54% of the stock is owned by institutional investors.

Zoom Communications Stock Up 12.7%

ZM traded up $9.30 during trading hours on Friday, hitting $82.47. 15,988,795 shares of the company's stock were exchanged, compared to its average volume of 2,760,714. Zoom Communications, Inc. has a 1-year low of $64.41 and a 1-year high of $92.80. The stock's 50-day moving average is $75.08 and its two-hundred day moving average is $76.71. The stock has a market cap of $24.95 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 19.15 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 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a net margin of 24.99% and a return on equity of 11.95%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling at Zoom Communications

In related news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $74.79, for a total transaction of $2,519,749.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 7,661 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total transaction of $593,727.50. Following the transaction, the insider owned 129,377 shares of the company's stock, valued at $10,026,717.50. The trade was a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,542 shares of company stock valued at $6,609,623 in the last three months. 11.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZM. Robert W. Baird reduced their target price on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday. Royal Bank Of Canada increased their price objective on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Friday. Rosenblatt Securities raised their price objective on shares of Zoom Communications from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen cut shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price target on shares of Zoom Communications in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $88.42.

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.