Zoom Communications, Inc. (NASDAQ:ZM) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Zoom Communications by 2.6%, now owning approximately 8.12% of the company, with shares valued at $1.83 billion.
• Several hedge funds, including Wynn Capital LLC and New York State Teachers Retirement System, have also adjusted their positions in Zoom, indicating heightened institutional interest.
• Wall Street analysts have mixed ratings on Zoom, with a consensus rating of "Hold" and an average target price of $87.00, reflecting varying expectations for the company’s performance.

Vanguard Group Inc. lifted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,796,654 shares of the company's stock after buying an additional 624,863 shares during the period. Vanguard Group Inc. owned about 8.12% of Zoom Communications worth $1,829,249,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Credit Capital Investments LLC purchased a new stake in Zoom Communications in the 1st quarter valued at about $221,000. Earned Wealth Advisors LLC boosted its position in Zoom Communications by 10.7% in the 1st quarter. Earned Wealth Advisors LLC now owns 4,601 shares of the company's stock valued at $339,000 after buying an additional 446 shares during the period. Blair William & Co. IL boosted its position in Zoom Communications by 14.1% in the 1st quarter. Blair William & Co. IL now owns 102,215 shares of the company's stock valued at $7,540,000 after buying an additional 12,663 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its position in Zoom Communications by 6.7% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,412 shares of the company's stock valued at $993,000 after buying an additional 838 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Zoom Communications by 28.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,195 shares of the company's stock valued at $383,000 after buying an additional 1,155 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZM has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Piper Sandler increased their price objective on shares of Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. Scotiabank increased their price objective on shares of 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, Needham & Company LLC upgraded shares of Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Zoom Communications has an average rating of "Hold" and an average price target of $87.00.

Insider Transactions at Zoom Communications

In other news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the sale, the director owned 5,875 shares in the company, valued at $439,802.50. This represents a 80.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,542 shares of company stock valued at $6,609,623. 10.78% of the stock is owned by corporate insiders.

Zoom Communications Trading Up 0.3%

Shares of NASDAQ:ZM traded up $0.19 on Tuesday, hitting $69.96. 3,089,019 shares of the company were exchanged, compared to its average volume of 3,084,080. Zoom Communications, Inc. has a 1-year low of $55.28 and a 1-year high of $92.80. The stock's 50 day moving average price is $76.16 and its 200 day moving average price is $77.39. The firm has a market capitalization of $21.17 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 18.26 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.35 earnings per share. On average, equities analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

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.