10,204 Shares in Zoom Communications, Inc. $ZM Purchased by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in Zoom Communications, Inc. (NASDAQ:ZM) during the second quarter, HoldingsChannel.com reports. The firm purchased 10,204 shares of the company’s stock, valued at approximately $796,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Zoom Communications by 0.6% during the second quarter. Vanguard Group Inc. now owns 24,951,437 shares of the company’s stock worth $1,945,713,000 after acquiring an additional 154,783 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Zoom Communications by 0.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company’s stock worth $473,732,000 after purchasing an additional 36,210 shares during the period. Geode Capital Management LLC lifted its holdings in Zoom Communications by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,795,307 shares of the company’s stock worth $373,504,000 after purchasing an additional 23,910 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Zoom Communications by 41.1% during the 2nd quarter. Acadian Asset Management LLC now owns 3,769,480 shares of the company’s stock worth $293,909,000 after purchasing an additional 1,097,333 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Zoom Communications by 63.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,137,093 shares of the company’s stock valued at $166,651,000 after purchasing an additional 830,393 shares during the period. 66.54% of the stock is owned by institutional investors.

Zoom Communications Price Performance

Shares of Zoom Communications stock opened at $78.63 on Monday. The company’s 50 day moving average price is $82.71 and its two-hundred day moving average price is $79.67. The firm has a market capitalization of $23.79 billion, a P/E ratio of 20.75, a P/E/G ratio of 10.73 and a beta of 0.79. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.39). Zoom Communications had a net margin of 24.99% and a return on equity of 11.91%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business earned $1.39 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 73,378 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $82.73, for a total transaction of $6,070,561.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 7,660 shares of Zoom Communications stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $82.00, for a total value of $628,120.00. Following the completion of the transaction, the insider directly owned 132,795 shares in the company, valued at approximately $10,889,190. This represents a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 391,848 shares of company stock valued at $32,508,712 over the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ZM. Mizuho increased their price objective on Zoom Communications from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 26th. KeyCorp lowered their price target on shares of Zoom Communications from $73.00 to $69.00 and set an “underweight” rating on the stock in a research report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Zoom Communications in a research note on Monday, November 17th. Wells Fargo & Company began coverage on shares of Zoom Communications in a research report on Tuesday, September 30th. They set an “equal weight” rating and a $90.00 target price on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Zoom Communications in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.35.

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.