QRG Capital Management Inc. Has $1.52 Million Stake in Zoom Communications, Inc. (NASDAQ:ZM)

QRG Capital Management Inc. boosted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 28.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,532 shares of the company's stock after acquiring an additional 4,590 shares during the period. QRG Capital Management Inc.'s holdings in Zoom Communications were worth $1,515,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC increased its stake in Zoom Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the last quarter. Norges Bank purchased a new position in shares of Zoom Communications in the 4th quarter valued at $751,908,000. AQR Capital Management LLC grew its position in shares of Zoom Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after buying an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Zoom Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after acquiring an additional 1,247,717 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Zoom Communications by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after acquiring an additional 28,725 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Stock Performance

ZM traded down $0.72 on Monday, reaching $77.27. 1,684,555 shares of the company's stock were exchanged, compared to its average volume of 2,887,182. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company's 50 day moving average is $78.39 and its 200-day moving average is $79.20. The company has a market cap of $23.38 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 12.95 and a beta of 0.71.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. 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 EPS. The firm's revenue was up 2.9% on a year-over-year basis. Sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Transactions at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 41,121 shares of Zoom Communications 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,196 shares of company stock valued at $6,885,843. 10.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZM. Wells Fargo & Company upped their target price on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Citigroup reduced their price objective on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a research note on Thursday, May 22nd. Benchmark reissued a "buy" rating and issued a $97.00 target price on shares of Zoom Communications in a report on Tuesday, May 20th. Finally, Mizuho cut their price target on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research note on Tuesday, April 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $87.00.

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.