Zurcher Kantonalbank Zurich Cantonalbank Has $11.36 Million Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Zoom Communications, Inc. (NASDAQ:ZM) by 12.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 153,984 shares of the company’s stock after purchasing an additional 16,790 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zoom Communications were worth $11,359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZM. Wayfinding Financial LLC acquired a new position in shares of Zoom Communications in the first quarter worth about $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Zoom Communications by 177.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 246 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Communications during the fourth quarter worth approximately $30,000. Colonial Trust Co SC acquired a new stake in shares of Zoom Communications during the fourth quarter worth approximately $32,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of Zoom Communications during the first quarter worth approximately $42,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZM has been the subject of several research reports. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. Mizuho decreased their price target on shares of Zoom Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Citigroup decreased their price target on shares of Zoom Communications from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, May 15th. Piper Sandler raised their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC upgraded shares of Zoom Communications from a “hold” rating to a “moderate buy” rating and set a $100.00 price target for the company 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.00.

Zoom Communications Stock Down 1.2%

Shares of ZM stock opened at $74.51 on Wednesday. Zoom Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business’s 50 day moving average is $77.64 and its two-hundred day moving average is $77.84. The company has a market cap of $22.54 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 12.35 and a beta of 0.68.

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

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 33,691 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is available at this hyperlink. Also, Director Herbert Raymond Mcmaster sold 500 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the director owned 10,901 shares in the company, valued at approximately $817,575. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,017 shares of company stock valued at $6,804,703 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Communications Company 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.