Swedbank AB Boosts Holdings in Zoom Communications, Inc. $ZM

Swedbank AB raised its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 21.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,820 shares of the company’s stock after purchasing an additional 16,553 shares during the quarter. Swedbank AB’s holdings in Zoom Communications were worth $7,394,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new stake in shares of Zoom Communications during the 1st quarter worth about $25,000. SouthState Corp purchased a new stake in shares of Zoom Communications during the 1st quarter worth about $25,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Zoom Communications during the 1st quarter worth about $31,000. Finally, Brooklyn Investment Group boosted its stake in shares of Zoom Communications by 277.8% during the 1st quarter. Brooklyn Investment Group now owns 442 shares of the company’s stock worth $33,000 after acquiring an additional 325 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Communications

In other news, Director Herbert Raymond Mcmaster sold 2,000 shares of Zoom Communications stock in a transaction on Monday, August 25th. The shares were sold at an average price of $83.00, for a total transaction of $166,000.00. Following the completion of the sale, the director directly owned 7,901 shares of the company’s stock, valued at approximately $655,783. The trade was a 20.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 33,691 shares of Zoom Communications 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 disclosure for this sale can be found here. In the last quarter, insiders sold 90,400 shares of company stock worth $6,871,114. 10.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. Robert W. Baird lowered their target price on shares of Zoom Communications from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Zoom Communications in a research note on Thursday. Stifel Nicolaus increased their target price on shares of Zoom Communications from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Zacks Research raised shares of Zoom Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.30.

Zoom Communications Trading Down 3.1%

Zoom Communications stock opened at $84.16 on Monday. The stock has a market cap of $25.46 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 11.73 and a beta of 0.57. The company has a fifty day simple moving average of $77.53 and a 200-day simple moving average of $76.99. Zoom Communications, Inc. has a 12-month low of $64.41 and a 12-month high of $92.80.

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.