Aberdeen Group plc Boosts Stock Position in Zoom Communications, Inc. $ZM

Aberdeen Group plc boosted its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZMFree Report) by 200.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 229,926 shares of the company’s stock after purchasing an additional 153,312 shares during the quarter. Aberdeen Group plc’s holdings in Zoom Communications were worth $16,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased 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. increased 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. Vanguard Group Inc. increased its holdings in shares of Zoom Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock valued at $1,829,249,000 after acquiring an additional 624,863 shares during the last quarter. Nuveen LLC bought a new stake in shares of Zoom Communications in the 1st quarter valued at approximately $37,646,000. Finally, Junto Capital Management LP bought a new stake in shares of Zoom Communications in the 4th quarter valued at approximately $36,580,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Zoom Communications from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, May 22nd. Bank of America boosted their price objective on Zoom Communications from $79.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. KeyCorp started coverage on Zoom Communications in a research report on Friday, June 6th. They set an “underweight” rating and a $73.00 price objective for the company. Wall Street Zen lowered Zoom Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Zoom Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.00.

Read Our Latest Stock Report on ZM

Zoom Communications Stock Up 0.7%

Shares of Zoom Communications stock opened at $73.64 on Tuesday. The firm has a market cap of $22.28 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 19.14 and a beta of 0.68. The business has a fifty day simple moving average of $75.31 and a 200-day simple moving average of $76.89. Zoom Communications, Inc. has a fifty-two week low of $58.49 and a fifty-two week high of $92.80.

Zoom Communications (NASDAQ:ZMGet Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Analysts anticipate that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Activity at Zoom Communications

In other news, COO Aparna Bawa sold 10,528 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the sale, the chief operating officer directly owned 1,978 shares of the company’s stock, valued at $147,914.84. The trade was a 84.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 33,691 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. Insiders sold 87,542 shares of company stock valued at $6,609,623 over the last ninety days. Company insiders own 10.78% of the company’s stock.

Zoom Communications Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Zoom Communications (NASDAQ:ZM)

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