Clal Insurance Enterprises Holdings Ltd Makes New $5.90 Million Investment in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Clal Insurance Enterprises Holdings Ltd has acquired a new stake in Zoom Communications, purchasing 80,000 shares valued at approximately $5.9 million.
• Multiple institutional investors have recently increased their positions in Zoom, highlighting strong interest; institutional ownership now stands at 66.54%.
• Despite varied analyst ratings, the consensus rating for Zoom's stock is "Hold", with a target price average of $87.00.

Clal Insurance Enterprises Holdings Ltd purchased a new stake in 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. The fund purchased 80,000 shares of the company's stock, valued at approximately $5,902,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Zoom Communications by 18.5% in the 1st quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock valued at $12,977,000 after purchasing an additional 27,430 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Zoom Communications by 15.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock valued at $880,000 after purchasing an additional 1,601 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Zoom Communications by 31.9% in the 1st quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after purchasing an additional 1,076 shares during the period. Spire Wealth Management lifted its stake in shares of Zoom Communications by 990.6% in the 1st quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after purchasing an additional 1,268 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in shares of Zoom Communications by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock valued at $1,792,000 after purchasing an additional 171 shares during the period. Institutional investors own 66.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. William Blair reissued an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Wells Fargo & Company boosted their price objective on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Needham & Company LLC raised Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, May 22nd. Rosenblatt Securities upped their price target on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $87.00.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, COO Aparna Bawa sold 10,528 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the completion of the transaction, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 7,661 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the transaction, the insider directly owned 129,377 shares of the company's stock, valued at approximately $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,542 shares of company stock valued at $6,609,623 in the last quarter. Insiders own 11.51% of the company's stock.

Zoom Communications Trading Up 3.5%

Shares of ZM stock traded up $2.43 during trading on Wednesday, hitting $72.39. The company's stock had a trading volume of 2,274,027 shares, compared to its average volume of 3,101,587. The company has a market cap of $21.90 billion, a PE ratio of 21.74, a P/E/G ratio of 18.31 and a beta of 0.68. The business has a fifty day moving average of $75.78 and a 200-day moving average of $77.30. Zoom Communications, Inc. has a 52 week low of $56.12 and a 52 week high of $92.80.

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

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.