Wedmont Private Capital Has $271,000 Stake in Zoom Communications, Inc. $ZM

Wedmont Private Capital increased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,499 shares of the company’s stock after buying an additional 137 shares during the period. Wedmont Private Capital’s holdings in Zoom Communications were worth $271,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Swedbank AB increased its position in shares of Zoom Communications by 21.1% during the second quarter. Swedbank AB now owns 94,820 shares of the company’s stock worth $7,394,000 after acquiring an additional 16,553 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Zoom Communications during the second quarter worth $217,000. Pallas Capital Advisors LLC increased its position in shares of Zoom Communications by 4.3% during the second quarter. Pallas Capital Advisors LLC now owns 24,699 shares of the company’s stock worth $1,926,000 after acquiring an additional 1,011 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Zoom Communications during the second quarter worth $242,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Zoom Communications by 44.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 556 shares of the company’s stock worth $43,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a report on Friday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 price target on shares of Zoom Communications in a research note on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Zoom Communications in a research note on Thursday. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Zoom Communications in a research note on Thursday. Finally, Benchmark raised their target price on shares of Zoom Communications from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Two investment 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 company’s stock. Based on data from MarketBeat.com, Zoom Communications has a consensus rating of “Moderate Buy” and an average target price of $91.30.

Zoom Communications Stock Performance

Shares of NASDAQ ZM opened at $84.16 on Monday. The company has a market capitalization 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. Zoom Communications, Inc. has a 52-week low of $64.41 and a 52-week high of $92.80. The company’s 50 day moving average price is $77.53 and its 200-day moving average price is $76.99.

Insider Transactions at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,661 shares of Zoom Communications stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the sale, the insider owned 129,377 shares in the company, valued at $10,026,717.50. The trade was a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 33,691 shares of Zoom Communications stock in a transaction on Monday, July 14th. The shares were 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 ninety days, insiders have sold 90,400 shares of company stock worth $6,871,114. Company insiders own 10.78% of the company’s stock.

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.