Banque Cantonale Vaudoise Purchases Shares of 11,637 Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Banque Cantonale Vaudoise acquired 11,637 shares of Zoom Communications, valued at approximately $859,000, as part of a growing trend where large investors are increasing their stakes in the company.
• Wall Street analysts have maintained mostly neutral ratings for Zoom, with recent price targets raised by multiple firms, leading to an average price target of $87.00.
• Zoom Communications reported earnings that exceeded analysts’ expectations, posting $1.43 EPS and achieving a year-over-year revenue increase of 2.9% during its last quarter.

Banque Cantonale Vaudoise acquired a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,637 shares of the company's stock, valued at approximately $859,000.

Other large investors also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in Zoom Communications in the 1st quarter worth approximately $25,000. Raiffeisen Bank International AG acquired a new position in shares of Zoom Communications during the fourth quarter worth $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after purchasing an additional 246 shares during the period. Colonial Trust Co SC acquired a new stake in Zoom Communications during the 4th quarter valued at $32,000. Finally, Cloud Capital Management LLC purchased a new stake in Zoom Communications during the 1st quarter worth $42,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Wall Street Analyst Weigh In

ZM has been the subject of several recent analyst reports. Bank of America raised their target price on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their price target on Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Wall Street Zen lowered Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Piper Sandler lifted their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Stock Performance

Zoom Communications stock opened at $74.05 on Friday. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market cap of $22.40 billion, a PE ratio of 22.24, a P/E/G ratio of 12.16 and a beta of 0.68. The firm's 50 day moving average price is $77.32 and its two-hundred day moving average price is $77.78.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data 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. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the firm earned $1.35 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Insider Activity at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was 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, COO Aparna Bawa sold 10,528 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer owned 1,978 shares in the company, valued at approximately $147,914.84. This trade represents a 84.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,017 shares of company stock valued at $6,804,703. Insiders own 11.51% of the company's stock.

Zoom Communications Company 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.

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