Vontobel Holding Ltd. Has $3.43 Million Holdings in Zoom Communications, Inc. (NASDAQ:ZM)

Vontobel Holding Ltd. grew its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,491 shares of the company's stock after acquiring an additional 5,066 shares during the period. Vontobel Holding Ltd.'s holdings in Zoom Communications were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. FMR LLC raised its holdings in Zoom Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after purchasing an additional 282,645 shares during the last quarter. Norges Bank bought a new stake in shares of Zoom Communications during the fourth quarter worth approximately $751,908,000. AQR Capital Management LLC raised its stake in shares of 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 buying an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of 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 buying an additional 1,247,717 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 buying an additional 28,725 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZM has been the subject of a number of recent research reports. Citigroup dropped their price target on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Scotiabank boosted their price target on shares of Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Friday, May 16th. Piper Sandler boosted their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. William Blair restated an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Bank of America boosted their price objective on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Communications has an average rating of "Hold" and a consensus target price of $87.00.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 2,595 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $80.26, for a total value of $208,274.70. Following the transaction, the insider directly owned 126,393 shares of the company's stock, valued at $10,144,302.18. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 16,099 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer directly owned 1,978 shares in the company, valued at $143,583.02. The trade was a 89.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 94,196 shares of company stock valued at $6,885,843. 11.51% of the stock is owned by corporate insiders.

Zoom Communications Stock Up 0.7%

Shares of ZM stock opened at $78.12 on Friday. The company's fifty day simple moving average is $79.34 and its 200-day simple moving average is $78.80. The firm has a market cap of $23.64 billion, a PE ratio of 23.46, a P/E/G 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.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts predict that Zoom Communications, Inc. will post 2.93 earnings per share 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.

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