GAMMA Investing LLC Raises Position in Zoom Communications, Inc. $ZM

GAMMA Investing LLC raised its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 77.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,534 shares of the company’s stock after purchasing an additional 669 shares during the quarter. GAMMA Investing LLC’s holdings in Zoom Communications were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Zoom Communications by 18.5% in the first quarter. Principal Financial Group Inc. now owns 175,918 shares of the company’s stock worth $12,977,000 after purchasing an additional 27,430 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Zoom Communications by 15.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company’s stock worth $880,000 after purchasing an additional 1,601 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Zoom Communications by 31.9% during the first quarter. Yousif Capital Management LLC now owns 4,453 shares of the company’s stock valued at $328,000 after acquiring an additional 1,076 shares during the last quarter. Spire Wealth Management increased its position in shares of Zoom Communications by 990.6% during the first quarter. Spire Wealth Management now owns 1,396 shares of the company’s stock valued at $103,000 after acquiring an additional 1,268 shares during the last quarter. Finally, Circle Wealth Management LLC increased its position in shares of Zoom Communications by 201.6% during the first quarter. Circle Wealth Management LLC now owns 20,391 shares of the company’s stock valued at $1,504,000 after acquiring an additional 13,629 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Price Performance

Shares of NASDAQ:ZM opened at $82.50 on Wednesday. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The company has a market cap of $24.96 billion, a PE ratio of 21.77, a P/E/G ratio of 11.54 and a beta of 0.57. The stock’s 50-day moving average is $78.74 and its 200 day moving average is $77.43.

Insider Activity at Zoom Communications

In related news, CEO Eric S. Yuan sold 33,691 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total value of $1,871,500.00. Following the transaction, the director owned 5,875 shares in the company, valued at $439,802.50. This trade represents a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,925 shares of company stock worth $6,680,119 over the last 90 days. 10.78% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ZM. Robert W. Baird decreased their price target on Zoom Communications from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Zoom Communications in a research report on Thursday, September 18th. KeyCorp decreased their price target on Zoom Communications from $73.00 to $69.00 and set an “underweight” rating for the company in a research report on Friday, August 22nd. Wedbush reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Communications in a research report on Friday, August 22nd. Finally, Citigroup increased their price target on Zoom Communications from $84.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.74.

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.