Parallel Advisors LLC Purchases 638 Shares of Zoom Communications, Inc. $ZM

Parallel Advisors LLC lifted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 27.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,970 shares of the company’s stock after purchasing an additional 638 shares during the quarter. Parallel Advisors LLC’s holdings in Zoom Communications were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. RB Capital Management LLC bought a new stake in shares of Zoom Communications during the 2nd quarter valued at approximately $1,537,000. Kera Capital Partners Inc. grew its holdings in shares of Zoom Communications by 41.2% during the 2nd quarter. Kera Capital Partners Inc. now owns 6,497 shares of the company’s stock valued at $507,000 after purchasing an additional 1,895 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Zoom Communications during the 1st quarter valued at approximately $999,000. Voya Investment Management LLC grew its holdings in shares of Zoom Communications by 24.2% during the 1st quarter. Voya Investment Management LLC now owns 70,180 shares of the company’s stock valued at $5,177,000 after purchasing an additional 13,686 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Zoom Communications during the 1st quarter valued at approximately $3,377,000. 66.54% of the stock is owned by institutional investors.

Zoom Communications Stock Down 3.1%

Zoom Communications stock opened at $84.16 on Monday. Zoom Communications, Inc. has a 12-month low of $64.41 and a 12-month high of $92.80. The firm’s fifty day moving average is $77.53 and its 200 day moving average is $76.99. The company has a market capitalization of $25.46 billion, a PE ratio of 22.21, a PEG ratio of 11.73 and a beta of 0.57.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Zoom Communications in a report on Thursday. Wall Street Zen lowered shares of Zoom Communications from a “strong-buy” rating to a “buy” rating in a report on Saturday. Benchmark boosted their target price on shares of Zoom Communications from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup boosted their target price on shares of Zoom Communications from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Finally, JMP Securities reissued a “market perform” rating on shares of Zoom Communications in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.30.

Insider Buying and Selling at Zoom Communications

In other news, Director Herbert Raymond Mcmaster sold 2,000 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $83.00, for a total value of $166,000.00. Following the completion of the sale, the director owned 7,901 shares in the company, valued at $655,783. This represents a 20.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the 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 transaction, the director owned 5,875 shares of the company’s stock, valued at approximately $439,802.50. The trade was a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,400 shares of company stock worth $6,871,114 in the last ninety 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.