Cambridge Investment Research Advisors Inc. Boosts Stock Holdings in Zoom Communications, Inc. (NASDAQ:ZM)

Cambridge Investment Research Advisors Inc. grew its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,928 shares of the company’s stock after buying an additional 1,601 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Zoom Communications were worth $880,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Zoom Communications during the 4th quarter valued at about $751,908,000. Altshuler Shaham Ltd increased its stake in shares of Zoom Communications by 285.9% during the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock valued at $167,813,000 after purchasing an additional 1,523,480 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Zoom Communications by 24.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Zoom Communications during the fourth quarter valued at approximately $99,471,000. Finally, Contrarius Group Holdings Ltd bought a new stake in shares of Zoom Communications in the 4th quarter worth approximately $72,854,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $97.00 price target on shares of Zoom Communications in a report on Tuesday, May 20th. Wells Fargo & Company upped their price objective on Zoom Communications from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their target price on Zoom Communications from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Mizuho cut their price target on Zoom Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Bank of America upped their price target on shares of Zoom Communications from $79.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Communications has a consensus rating of “Hold” and an average target price of $87.00.

Zoom Communications Trading Up 0.7%

NASDAQ:ZM opened at $78.12 on Monday. Zoom Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The business’s fifty day moving average price is $79.38 and its 200 day moving average price is $78.69. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 12.87 and a beta of 0.68.

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

Insider Buying and Selling

In related news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $80.67, for a total value of $199,658.25. Following the completion of the transaction, the director owned 155,349 shares of the company’s stock, valued at $12,532,003.83. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer directly owned 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,196 shares of company stock valued at $6,885,843 in the last quarter. Insiders own 10.78% of the company’s stock.

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.