Zoom Communications, Inc. $ZM Holdings Raised by Junto Capital Management LP

Key Points

• Junto Capital Management LP increased its holdings in Zoom Communications by 93.8% during the first quarter, owning a total of 868,507 shares valued at approximately $64 million.
• Institutional investors now own 66.54% of Zoom Communications stock, with several funds significantly increasing their stakes, such as Panagora Asset Management increasing by 5,457.2%.
• Analysts have mixed views on Zoom Communications, with recent price targets ranging from $69.00 to $95.00 and a consensus rating of Hold.

Junto Capital Management LP grew its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 93.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 868,507 shares of the company's stock after acquiring an additional 420,275 shares during the quarter. Zoom Communications makes up approximately 1.3% of Junto Capital Management LP's holdings, making the stock its 21st largest position. Junto Capital Management LP owned 0.28% of Zoom Communications worth $64,070,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Panagora Asset Management Inc. increased its holdings in shares of Zoom Communications by 5,457.2% in the 1st quarter. Panagora Asset Management Inc. now owns 253,018 shares of the company's stock valued at $18,665,000 after acquiring an additional 248,465 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Zoom Communications by 190.0% in the 1st quarter. Vident Advisory LLC now owns 12,962 shares of the company's stock valued at $956,000 after acquiring an additional 8,492 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Zoom Communications by 1.1% in the 1st quarter. Evergreen Capital Management LLC now owns 40,901 shares of the company's stock valued at $3,017,000 after acquiring an additional 429 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Zoom Communications by 27.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 240,407 shares of the company's stock valued at $17,735,000 after acquiring an additional 52,213 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Zoom Communications in the 1st quarter valued at approximately $31,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Price Performance

Shares of Zoom Communications stock opened at $81.42 on Friday. The business's fifty day moving average price is $75.37 and its two-hundred day moving average price is $76.53. The company has a market capitalization of $24.63 billion, a P/E ratio of 21.48, a PEG ratio of 12.41 and a beta of 0.68. Zoom Communications, Inc. has a 1-year low of $64.41 and a 1-year high of $92.80.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Zoom Communications from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. KeyCorp reduced their price objective on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating for the company in a research report on Friday, August 22nd. JMP Securities restated a "market perform" rating on shares of Zoom Communications in a research report on Friday, August 22nd. Citigroup boosted their price objective on Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. Finally, Zacks Research lowered Zoom Communications from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $90.30.

Insider Activity

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of Zoom Communications 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications 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 directly owned 5,875 shares in the company, valued at $439,802.50. The trade was a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,017 shares of company stock worth $7,052,757 over the last ninety days. 11.51% of the stock is currently owned by company insiders.

Zoom Communications Company 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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