Voya Investment Management LLC Has $5.18 Million Stake in Zoom Communications, Inc. $ZM

Voya Investment Management LLC boosted its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 24.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,180 shares of the company’s stock after buying an additional 13,686 shares during the quarter. Voya Investment Management LLC’s holdings in Zoom Communications were worth $5,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. increased its position in shares of Zoom Communications by 119.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company’s stock valued at $103,670,000 after purchasing an additional 765,092 shares during the last quarter. Vanguard Group Inc. boosted its stake in Zoom Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company’s stock worth $1,829,249,000 after purchasing an additional 624,863 shares during the period. Nuveen LLC purchased a new stake in shares of Zoom Communications in the 1st quarter valued at about $37,646,000. Junto Capital Management LP raised its holdings in shares of Zoom Communications by 93.8% in the 1st quarter. Junto Capital Management LP now owns 868,507 shares of the company’s stock valued at $64,070,000 after acquiring an additional 420,275 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Zoom Communications by 119.5% during the 1st quarter. Citigroup Inc. now owns 593,334 shares of the company’s stock valued at $43,770,000 after buying an additional 323,036 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zoom Communications

In related news, CEO Eric S. Yuan sold 33,691 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the sale, the director owned 5,875 shares of the company’s stock, valued at approximately $439,802.50. This trade represents a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,400 shares of company stock valued at $6,871,114 in the last 90 days. 11.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ZM shares. Morgan Stanley lifted their price target on Zoom Communications from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Zoom Communications in a research note on Friday, August 22nd. Citigroup lifted their price objective on Zoom Communications from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. William Blair reiterated an “outperform” rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus lifted their price objective on Zoom Communications from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zoom Communications has an average rating of “Hold” and a consensus price target of $91.30.

Zoom Communications Trading Up 0.6%

Zoom Communications stock opened at $86.83 on Friday. Zoom Communications, Inc. has a 12 month low of $64.41 and a 12 month high of $92.80. The business’s fifty day simple moving average is $77.32 and its two-hundred day simple moving average is $76.90. The company has a market capitalization of $26.27 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 12.03 and a beta of 0.57.

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.