IFM Investors Pty Ltd Purchases 5,493 Shares of Zoom Communications, Inc. (NASDAQ:ZM)

IFM Investors Pty Ltd lifted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,262 shares of the company's stock after acquiring an additional 5,493 shares during the period. IFM Investors Pty Ltd's holdings in Zoom Communications were worth $3,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GF Fund Management CO. LTD. increased its position in Zoom Communications by 277.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 6,847 shares of the company's stock valued at $505,000 after buying an additional 5,032 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Zoom Communications by 18.5% during the first quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock valued at $12,977,000 after acquiring an additional 27,430 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. increased its holdings in shares of Zoom Communications by 94.7% during the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 25,900 shares of the company's stock valued at $1,911,000 after acquiring an additional 12,600 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Zoom Communications by 18.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,016 shares of the company's stock valued at $444,000 after acquiring an additional 945 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in shares of Zoom Communications by 110.0% during the first quarter. Summit Trail Advisors LLC now owns 12,592 shares of the company's stock valued at $929,000 after acquiring an additional 6,597 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 16,099 shares of Zoom Communications stock in a transaction dated 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 transaction, the chief operating officer owned 1,978 shares in the company, valued at approximately $143,583.02. The trade was a 89.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of Zoom Communications stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total value of $907,125.00. Following the completion of the transaction, the director owned 1,514 shares in the company, valued at approximately $109,870.98. This represents a 89.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,671 shares of company stock valued at $7,076,838 over the last 90 days. Company insiders own 10.78% of the company's stock.

Wall Street Analyst Weigh In

ZM has been the subject of several analyst reports. KeyCorp began coverage on Zoom Communications in a research note on Friday, June 6th. They issued an "underweight" rating and a $73.00 price objective for the company. Wells Fargo & Company upped their price target on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Bank of America upped their price target on Zoom Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and two have assigned 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 Trading Up 1.5%

Shares of NASDAQ ZM traded up $1.16 during midday trading on Tuesday, hitting $78.33. 686,314 shares of the company's stock were exchanged, compared to its average volume of 2,521,382. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 12.87 and a beta of 0.68. The business's fifty day moving average price is $79.40 and its two-hundred day moving average price is $78.63.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued 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. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. Zoom Communications's revenue was up 2.9% on a year-over-year basis. Equities analysts expect 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.