GF Fund Management CO. LTD. Boosts Stake in Zoom Communications, Inc. (NASDAQ:ZM)

GF Fund Management CO. LTD. lifted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 277.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,847 shares of the company's stock after buying an additional 5,032 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Zoom Communications were worth $505,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Wynn Capital LLC boosted its position in Zoom Communications by 1.6% during the first quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after purchasing an additional 160 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Zoom Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after purchasing an additional 168 shares in the last quarter. New York State Teachers Retirement System boosted its position in Zoom Communications by 0.7% during the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after purchasing an additional 171 shares in the last quarter. Siemens Fonds Invest GmbH boosted its position in Zoom Communications by 3.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after purchasing an additional 174 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Zoom Communications by 19.8% during the first quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock worth $78,000 after purchasing an additional 175 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZM has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Citigroup cut their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Scotiabank boosted their price target on Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Friday, May 16th. Royal Bank Of Canada reissued an "outperform" rating and issued a $95.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, KeyCorp assumed coverage on Zoom Communications in a report on Friday, June 6th. They issued an "underweight" rating and a $73.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Price Performance

Shares of NASDAQ:ZM opened at $78.12 on Friday. The firm has a market capitalization of $23.64 billion, a PE ratio of 23.46, a P/E/G ratio of 12.87 and a beta of 0.68. The business has a 50-day moving average of $79.38 and a two-hundred day moving average of $78.75. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly 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. The company had revenue of $1.17 billion during 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 firm's revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, research analysts anticipate that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Insider Transactions at Zoom Communications

In related news, Director Janet Napolitano sold 2,617 shares of the firm'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 sale, the director directly owned 4,728 shares in the company, valued at $363,015.84. This trade represents a 35.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.57, for a total value of $907,125.00. Following the transaction, the director directly owned 1,514 shares of the company's stock, valued at approximately $109,870.98. The trade was a 89.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,196 shares of company stock worth $6,885,843 over the last quarter. Insiders own 11.51% of the company's stock.

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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