Robeco Institutional Asset Management B.V. Acquires 830,393 Shares of Zoom Communications, Inc. $ZM

Key Points

• Robeco Institutional Asset Management increased its stake in Zoom Communications by 63.5%, acquiring an additional 830,393 shares in the second quarter, bringing its total ownership to approximately 2.14 million shares valued at $166.7 million.
• Several other institutional investors, including Vanguard Group and Victory Capital Management, also boosted their holdings in Zoom, demonstrating significant institutional interest in the company.
• Analysts have mixed ratings on Zoom Communications, with Zacks upgrading the stock to a strong-buy and remains a consensus rating of moderate buy, forecasting an average price target of $91.74.

Robeco Institutional Asset Management B.V. grew its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 63.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,137,093 shares of the company's stock after purchasing an additional 830,393 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.71% of Zoom Communications worth $166,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Zoom Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock worth $1,829,249,000 after purchasing an additional 624,863 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Zoom Communications by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock worth $473,732,000 after purchasing an additional 36,210 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Zoom Communications by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company's stock worth $123,912,000 after purchasing an additional 16,819 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Zoom Communications by 119.5% in the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock worth $103,670,000 after purchasing an additional 765,092 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Zoom Communications by 13.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,399,652 shares of the company's stock worth $103,252,000 after purchasing an additional 161,751 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $110.00 price target on shares of Zoom Communications in a report on Thursday, September 18th. KeyCorp lowered their price objective on shares of Zoom Communications from $73.00 to $69.00 and set an "underweight" rating for the company in a research note on Friday, August 22nd. Zacks Research upgraded shares of Zoom Communications from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 18th. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research note on Tuesday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $100.00 price objective on shares of Zoom Communications in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Zoom Communications presently has an average rating of "Moderate Buy" and a consensus price target of $91.74.

Insider Activity at Zoom Communications

In related news, insider Velchamy Sankarlingam sold 7,661 shares of the business'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 directly owned 129,377 shares in the company, valued at $10,026,717.50. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $83.40, for a total transaction of $206,415.00. Following the transaction, the director owned 155,119 shares of the company's stock, valued at $12,936,924.60. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,925 shares of company stock valued at $6,680,119 over the last ninety days. Corporate insiders own 11.51% of the company's stock.

Zoom Communications Price Performance

NASDAQ ZM opened at $81.28 on Thursday. The company has a market capitalization of $24.59 billion, a PE ratio of 21.45, a P/E/G ratio of 11.39 and a beta of 0.78. The company has a fifty day moving average of $78.85 and a 200 day moving average of $77.45. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80.

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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