Zoom Communications, Inc. $ZM Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 26.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,746 shares of the company’s stock after acquiring an additional 569 shares during the quarter. Farther Finance Advisors LLC’s holdings in Zoom Communications were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Diversified Trust Co lifted its holdings in Zoom Communications by 1.0% in the 2nd quarter. Diversified Trust Co now owns 21,922 shares of the company’s stock valued at $1,709,000 after acquiring an additional 223 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Zoom Communications in the 2nd quarter valued at about $242,000. Kingstone Capital Partners Texas LLC acquired a new stake in Zoom Communications in the 2nd quarter valued at about $10,291,000. IFM Investors Pty Ltd lifted its holdings in Zoom Communications by 6.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 50,914 shares of the company’s stock valued at $3,970,000 after acquiring an additional 3,145 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in Zoom Communications by 18.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,614 shares of the company’s stock valued at $363,000 after acquiring an additional 719 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $83.40, for a total value of $206,415.00. Following the transaction, the director owned 155,119 shares in the company, valued at $12,936,924.60. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 7,661 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the transaction, the insider owned 129,377 shares in the company, valued at $10,026,717.50. This represents a 5.59% 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 ninety days. 11.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup upped their price target on shares of Zoom Communications from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Dbs Bank raised shares of Zoom Communications to a “moderate buy” rating in a report on Tuesday, September 16th. Royal Bank Of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Zoom Communications in a report on Thursday, September 18th. Stifel Nicolaus boosted their price objective on Zoom Communications from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, September 18th. Finally, Benchmark boosted their price objective on Zoom Communications from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $91.74.

Zoom Communications Price Performance

Shares of ZM opened at $81.28 on Thursday. The company has a market capitalization of $24.59 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 11.39 and a beta of 0.78. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80. The business’s 50-day moving average is $78.85 and its 200-day moving average is $77.45.

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.