KBC Group NV Has $129.79 Million Holdings in Zoom Communications, Inc. (NASDAQ:ZM)

KBC Group NV cut its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,759,421 shares of the company's stock after selling 4,190 shares during the period. KBC Group NV owned about 0.58% of Zoom Communications worth $129,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZM. MassMutual Private Wealth & Trust FSB increased its holdings in Zoom Communications by 177.0% during the 1st 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 in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Zoom Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Communications in the 4th quarter valued at $30,000. Colonial Trust Co SC acquired a new stake in shares of Zoom Communications in the 4th quarter valued at $32,000. Finally, MRP Capital Investments LLC increased its stake in shares of Zoom Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZM. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 target price on shares of Zoom Communications in a research note on Thursday, May 22nd. William Blair restated an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Scotiabank lifted their target price on Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Friday, May 16th. Finally, Bank of America lifted their target price on Zoom Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $87.00.

Zoom Communications Price Performance

NASDAQ ZM opened at $78.38 on Friday. The business has a fifty day moving average price of $78.93 and a two-hundred day moving average price of $78.95. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market capitalization of $23.71 billion, a PE ratio of 23.54, a PEG ratio of 13.01 and a beta of 0.71.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping 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 firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the company earned $1.35 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $80.67, for a total transaction of $199,658.25. Following the completion of the transaction, the director now directly owns 155,349 shares in the company, valued at $12,532,003.83. The trade was a 1.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $72.18, for a total transaction of $2,968,113.78. The disclosure for this sale can be found here. Insiders have sold a total of 94,196 shares of company stock valued at $6,885,843 in the last 90 days. 11.51% of the stock is currently owned by corporate insiders.

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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