KLP Kapitalforvaltning AS Has $34.02 Million Stock Holdings in Zoom Communications, Inc. $ZM

KLP Kapitalforvaltning AS lifted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 34.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 436,300 shares of the company's stock after purchasing an additional 111,300 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.14% of Zoom Communications worth $34,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Valeo Financial Advisors LLC acquired a new stake in shares of Zoom Communications during the second quarter worth $9,156,000. Highland Capital Management LLC acquired a new stake in shares of Zoom Communications during the second quarter worth $3,907,000. 111 Capital acquired a new stake in shares of Zoom Communications during the second quarter worth $285,000. QRG Capital Management Inc. raised its position in shares of Zoom Communications by 448.9% during the second quarter. QRG Capital Management Inc. now owns 112,704 shares of the company's stock worth $8,789,000 after purchasing an additional 92,172 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its position in shares of Zoom Communications by 8.2% during the second quarter. ASR Vermogensbeheer N.V. now owns 7,532 shares of the company's stock worth $587,000 after purchasing an additional 572 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZM has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on Zoom Communications from $80.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, September 18th. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a report on Tuesday, September 30th. Citigroup lifted their price target on Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Piper Sandler reiterated a "neutral" rating and set a $85.00 price target on shares of Zoom Communications in a report on Friday, August 22nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $100.00 price target on shares of Zoom Communications in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Zoom Communications has an average rating of "Hold" and an average target price of $91.74.

Insider Transactions at Zoom Communications

In other Zoom Communications news, COO Aparna Bawa sold 10,528 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer owned 1,978 shares in the company, valued at $147,914.84. The trade was a 84.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 7,661 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the transaction, the insider owned 129,377 shares in the company, valued at $10,026,717.50. This trade represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,925 shares of company stock valued at $6,680,119. Corporate insiders own 10.78% of the company's stock.

Zoom Communications Price Performance

Shares of NASDAQ ZM opened at $79.49 on Wednesday. The business's 50-day moving average price is $79.32 and its two-hundred day moving average price is $77.61. Zoom Communications, Inc. has a one year low of $64.41 and a one year high of $92.80. The company has a market capitalization of $24.05 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 11.19 and a beta of 0.78.

Zoom Communications Company 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.

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