Zoom Communications, Inc. (NASDAQ:ZM) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 110.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,592 shares of the company's stock after purchasing an additional 6,597 shares during the quarter. Summit Trail Advisors LLC's holdings in Zoom Communications were worth $929,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Zoom Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after acquiring an additional 282,645 shares during the last quarter. Norges Bank acquired a new stake in Zoom Communications during the fourth quarter worth about $751,908,000. AQR Capital Management LLC increased its stake in Zoom Communications by 5.2% during the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock worth $615,237,000 after acquiring an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Zoom Communications by 24.3% during the fourth 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 during the last quarter. Finally, Geode Capital Management LLC increased its stake in Zoom Communications by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after acquiring an additional 28,725 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 16,099 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer owned 1,978 shares of the company's stock, valued at approximately $143,583.02. This trade represents a 89.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Janet Napolitano sold 2,617 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the sale, the director directly owned 4,728 shares in the company, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,196 shares of company stock worth $6,885,843. 11.51% of the stock is currently owned by insiders.

Zoom Communications Price Performance

Shares of NASDAQ ZM traded up $0.53 during mid-day trading on Thursday, hitting $78.12. The company had a trading volume of 2,889,396 shares, compared to its average volume of 2,902,201. The stock has a market cap of $23.64 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 12.88 and a beta of 0.68. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm's 50 day simple moving average is $79.29 and its two-hundred day simple moving average is $78.83.

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 (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. Equities analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Needham & Company LLC upgraded Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target for the company in a research note on Thursday, May 22nd. Wall Street Zen lowered Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 23rd. Bank of America increased their target price on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Scotiabank increased their target price on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $87.00.

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.