K.J. Harrison & Partners Inc acquired a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the company's stock, valued at approximately $2,213,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in Zoom Communications by 294.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 215,029 shares of the company's stock worth $15,916,000 after buying an additional 160,535 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new stake in Zoom Communications during the 1st quarter worth approximately $216,000. Illinois Municipal Retirement Fund lifted its holdings in Zoom Communications by 11.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 225,412 shares of the company's stock worth $16,629,000 after buying an additional 23,412 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Zoom Communications by 4.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,306,700 shares of the company's stock worth $96,395,000 after buying an additional 53,639 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in Zoom Communications by 990.6% during the 1st quarter. Spire Wealth Management now owns 1,396 shares of the company's stock worth $103,000 after buying an additional 1,268 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.
Zoom Communications Stock Performance
Shares of Zoom Communications stock opened at $78.38 on Friday. Zoom Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market capitalization of $23.71 billion, a P/E ratio of 23.54, a PEG ratio of 13.01 and a beta of 0.71. The company's fifty day moving average is $78.93 and its two-hundred day moving average is $78.95.
Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm posted $1.35 EPS. Zoom Communications's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.
Insider Activity
In related news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $75.43, for a total value of $186,689.25. Following the completion of the sale, the director now owns 160,299 shares in the company, valued at $12,091,353.57. This trade represents a 1.52% decrease in their ownership of the stock. The sale 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 firm's stock in a transaction dated Monday, April 14th. The shares were 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 over the last quarter. Corporate insiders own 11.51% of the company's stock.
Analyst Ratings Changes
ZM has been the topic of a number of analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price objective on shares of Zoom Communications in a report on Thursday, May 22nd. KeyCorp initiated coverage on shares of Zoom Communications in a report on Friday, June 6th. They issued an "underweight" rating and a $73.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Rosenblatt Securities raised their price objective on shares of Zoom Communications from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Citigroup reduced their price objective on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zoom Communications currently has a consensus rating of "Hold" and an average price target of $87.00.
Get Our Latest Research Report on Zoom Communications
Zoom Communications Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM - Free Report).
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