Zoom Communications, Inc. $ZM Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 448.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,704 shares of the company's stock after purchasing an additional 92,172 shares during the period. QRG Capital Management Inc.'s holdings in Zoom Communications were worth $8,789,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Zoom Communications by 18.5% during the first quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock worth $12,977,000 after purchasing an additional 27,430 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Zoom Communications by 15.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock worth $880,000 after purchasing an additional 1,601 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Zoom Communications by 31.9% in the first quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after acquiring an additional 1,076 shares in the last quarter. Spire Wealth Management raised its stake in shares of Zoom Communications by 990.6% in the first quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Circle Wealth Management LLC raised its stake in shares of Zoom Communications by 201.6% in the first quarter. Circle Wealth Management LLC now owns 20,391 shares of the company's stock valued at $1,504,000 after acquiring an additional 13,629 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZM. Wedbush reiterated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Communications in a research note on Friday, August 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $100.00 price objective on shares of Zoom Communications in a research note on Thursday, September 18th. Mizuho increased their price objective on Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Zacks Research upgraded Zoom Communications from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 18th. Finally, Robert W. Baird reduced their price objective on Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $91.74.

Insider Activity at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the firm's stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer directly owned 1,978 shares in the company, valued at approximately $147,914.84. The trade was a 84.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,925 shares of company stock valued at $6,680,119. Corporate insiders own 10.78% of the company's stock.

Zoom Communications Price Performance

NASDAQ:ZM opened at $80.96 on Monday. The firm has a market capitalization of $24.49 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 11.18 and a beta of 0.78. The business's fifty day moving average price is $79.10 and its 200 day moving average price is $77.56. Zoom Communications, Inc. has a 12 month low of $64.41 and a 12 month high of $92.80.

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.

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.