Winnow Wealth LLC purchased a new stake in Zoom Communications, Inc. (NASDAQ:ZM – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,154 shares of the company’s stock, valued at approximately $926,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Elevation Point Wealth Partners LLC purchased a new position in shares of Zoom Communications during the second quarter valued at approximately $27,000. REAP Financial Group LLC boosted its holdings in shares of Zoom Communications by 181.7% in the 2nd quarter. REAP Financial Group LLC now owns 355 shares of the company’s stock worth $28,000 after buying an additional 229 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Zoom Communications during the 2nd quarter valued at approximately $31,000. Root Financial Partners LLC bought a new position in Zoom Communications during the third quarter valued at $33,000. Finally, Quent Capital LLC bought a new position in shares of Zoom Communications during the 3rd quarter worth $34,000. 66.54% of the stock is owned by institutional investors.
Zoom Communications Trading Down 0.5%
Shares of NASDAQ:ZM opened at $92.10 on Friday. The stock has a 50 day moving average of $86.67 and a 200 day moving average of $82.25. The company has a market cap of $27.27 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 8.32 and a beta of 0.87. Zoom Communications, Inc. has a 12-month low of $64.41 and a 12-month high of $97.58.
Analyst Ratings Changes
ZM has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Communications in a report on Tuesday, November 25th. UBS Group initiated coverage on Zoom Communications in a research report on Monday, October 20th. They set a “neutral” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Zoom Communications from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 25th. Citigroup upgraded Zoom Communications from a “neutral” rating to a “buy” rating and raised their target price for the company from $94.00 to $106.00 in a research note on Monday, January 12th. Finally, Zacks Research raised Zoom Communications from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zoom Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.82.
Get Our Latest Stock Analysis on ZM
Insider Transactions at Zoom Communications
In related news, COO Aparna Bawa sold 12,137 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $81.37, for a total transaction of $987,587.69. Following the completion of the transaction, the chief operating officer owned 1,978 shares in the company, valued at $160,949.86. The trade was a 85.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Communications stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $86.01, for a total transaction of $212,874.75. Following the sale, the director owned 145,219 shares of the company’s stock, valued at $12,490,286.19. The trade was a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 317,745 shares of company stock worth $27,002,595 in the last quarter. Company insiders own 11.51% of the company’s stock.
Zoom Communications Profile
Zoom Video Communications, Inc (commonly referred to as Zoom) is a provider of cloud-based communications and collaboration solutions. The company’s platform supports video conferencing, voice calling, instant messaging, webinars and large-scale virtual events, and meeting room systems, marketed to businesses, educational institutions, government organizations and individual users. Zoom’s product lineup includes Zoom Meetings, Zoom Phone, Zoom Rooms, Zoom Video Webinars and Zoom Chat, and the company offers integrations and extensions through a developer marketplace and third-party apps.
Founded in 2011 by Eric S.
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