Zoom Communications, Inc. (NASDAQ:ZM) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers boosted its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 45.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,206 shares of the company’s stock after buying an additional 7,616 shares during the quarter. Cetera Investment Advisers’ holdings in Zoom Communications were worth $1,786,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd increased 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. 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. Junto Capital Management LP purchased a new position in shares of Zoom Communications in the 4th quarter valued at about $36,580,000. Finally, AQR Capital Management LLC grew its position in shares of Zoom Communications by 5.2% in the 4th quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company’s stock valued at $615,237,000 after buying an additional 373,509 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Stock Down 0.0%

Shares of NASDAQ:ZM opened at $71.57 on Friday. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 18.74 and a beta of 0.68. The firm’s 50-day simple moving average is $76.39 and its 200-day simple moving average is $77.49. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating 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 firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $1.35 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of recent analyst reports. Bank of America increased their target price 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. Wall Street Zen downgraded shares of Zoom Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Scotiabank increased their target price on shares of Zoom Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their target price on shares of Zoom Communications from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Finally, Citigroup dropped their target price on shares of Zoom Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $87.00.

Insider Transactions at Zoom Communications

In other Zoom Communications news, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the completion of the transaction, the director owned 5,875 shares in the company, valued at approximately $439,802.50. The trade was a 80.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herbert Raymond Mcmaster sold 500 shares of Zoom Communications stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the transaction, the director owned 10,901 shares of the company’s stock, valued at approximately $817,575. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,542 shares of company stock valued at $6,609,623. 11.51% of the stock is owned by company insiders.

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.