Credit Capital Investments LLC Purchases Shares of 3,000 Zoom Communications, Inc. (NASDAQ:ZM)

Credit Capital Investments LLC purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) during the first quarter, Holdings Channel.com reports. The firm purchased 3,000 shares of the company’s stock, valued at approximately $221,000. Zoom Communications accounts for approximately 0.4% of Credit Capital Investments LLC’s investment portfolio, making the stock its 27th biggest holding.

A number of other hedge funds have also bought and sold shares of ZM. Altshuler Shaham Ltd boosted its holdings in shares of Zoom Communications by 285.9% in the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock valued at $167,813,000 after acquiring an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Zoom Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after acquiring an additional 1,247,717 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Zoom Communications by 119.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company’s stock valued at $103,670,000 after acquiring an additional 765,092 shares during the last quarter. Junto Capital Management LP purchased a new stake in shares of Zoom Communications in the 4th quarter valued at $36,580,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Zoom Communications by 9.7% in the 4th quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company’s stock valued at $351,319,000 after acquiring an additional 380,900 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on ZM shares. Rosenblatt Securities upped their price objective on shares of Zoom Communications from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Citigroup dropped their price objective on shares of Zoom Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, May 15th. Scotiabank upped their price objective on shares of Zoom Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 16th. Morgan Stanley upped their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, May 22nd. Finally, Bank of America increased their price target on shares of Zoom Communications from $79.00 to $84.00 and gave the stock 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $87.00.

Zoom Communications Stock Down 4.2%

ZM opened at $70.97 on Monday. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 11.63 and a beta of 0.68. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm’s fifty day simple moving average is $77.15 and its two-hundred day simple moving average is $77.70.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 22.31% and a return on equity of 11.08%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. On average, research analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction 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 $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. Over the last three months, insiders sold 87,542 shares of company stock valued at $6,609,623. Corporate insiders own 11.51% of the company’s stock.

About Zoom Communications

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.