Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 153,984 shares of the company's stock after acquiring an additional 16,790 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Zoom Communications worth $11,359,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ZM. Altshuler Shaham Ltd raised its stake in shares of Zoom Communications by 285.9% in the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock worth $167,813,000 after buying an additional 1,523,480 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Zoom Communications by 24.3% in 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 period. Arrowstreet Capital Limited Partnership raised its stake in shares of Zoom Communications by 357.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company's stock worth $81,507,000 after buying an additional 780,446 shares during the period. Victory Capital Management Inc. raised its stake in shares of 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 buying an additional 765,092 shares during the period. Finally, Junto Capital Management LP bought a new position in shares of Zoom Communications in the fourth quarter worth about $36,580,000. Institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZM. Rosenblatt Securities boosted their price target on Zoom Communications from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Mizuho lowered their price target on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. William Blair reissued an "outperform" rating on shares of Zoom Communications in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target on Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Citigroup lowered their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Communications currently has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Price Performance

Shares of ZM stock traded down $3.08 during mid-day trading on Friday, hitting $70.97. The stock had a trading volume of 3,358,248 shares, compared to its average volume of 2,657,381. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $21.47 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 12.16 and a beta of 0.68. The firm's 50-day moving average is $77.32 and its two-hundred day moving average is $77.78.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share 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 analysts' expectations 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 for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 EPS. Analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Activity

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 500 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the sale, the director directly owned 10,901 shares in the company, valued at approximately $817,575. This trade represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 10,528 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the completion of the sale, the chief operating officer owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This trade represents a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,017 shares of company stock worth $6,804,703 over the last ninety days. 11.51% of the stock is currently owned by corporate insiders.

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.