Zoom Communications, Inc. $ZM Shares Purchased by Kettle Hill Capital Management LLC

Key Points

• Kettle Hill Capital Management LLC increased its stake in Zoom Communications, Inc. by 319.5% in Q1, now holding 308,160 shares, making it the firm's fourth largest position.
• Several major investors, including Alliancebernstein and Royal Bank of Canada, also raised their holdings in Zoom during the first quarter, signaling continued interest in the company.
• Zoom Communications' stock was reported at $82.79 with a market cap of $25.05 billion, while analysts maintain an average rating of "Hold" with a target price of $90.30.

Kettle Hill Capital Management LLC lifted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 319.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 308,160 shares of the company's stock after purchasing an additional 234,697 shares during the period. Zoom Communications comprises 6.2% of Kettle Hill Capital Management LLC's holdings, making the stock its 4th biggest position. Kettle Hill Capital Management LLC owned 0.10% of Zoom Communications worth $22,733,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ZM. Wayfinding Financial LLC purchased a new stake in shares of Zoom Communications in the 1st quarter worth approximately $25,000. SouthState Corp purchased a new position in shares of Zoom Communications in the first quarter worth $25,000. MassMutual Private Wealth & Trust FSB raised its holdings 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 worth $28,000 after buying an additional 246 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Communications in the fourth quarter worth $30,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Zoom Communications in the first quarter worth $31,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

ZM has been the topic of a number of research reports. Royal Bank Of Canada increased their price objective on shares of Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Mizuho raised their price target on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Zacks Research lowered shares of Zoom Communications from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Citigroup raised their price target on shares of Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. Finally, JMP Securities restated a "market perform" rating on shares of Zoom Communications in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $90.30.

Zoom Communications Stock Up 1.1%

NASDAQ ZM traded up $0.89 on Friday, hitting $83.68. 2,864,862 shares of the stock were exchanged, compared to its average volume of 4,012,402. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80. The company has a market cap of $25.32 billion, a PE ratio of 22.08, a PEG ratio of 11.78 and a beta of 0.57. The company has a 50-day moving average price of $75.92 and a 200-day moving average price of $76.35.

Insider Activity at Zoom Communications

In other Zoom Communications news, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the completion of the transaction, the director owned 5,875 shares in the company, valued at $439,802.50. The trade was a 80.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 7,661 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total transaction of $593,727.50. Following the completion of the transaction, the insider owned 129,377 shares of the company's stock, valued at approximately $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 90,542 shares of company stock worth $6,853,099 over the last ninety days. 10.78% of the stock is currently owned by insiders.

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.