Livforsakringsbolaget Skandia Omsesidigt Takes $242,000 Position in Zoom Communications, Inc. $ZM

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,104 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its holdings in Zoom Communications by 44.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 556 shares of the company’s stock valued at $43,000 after purchasing an additional 171 shares during the last quarter. Parallel Advisors LLC raised its holdings in Zoom Communications by 27.4% in the 2nd quarter. Parallel Advisors LLC now owns 2,970 shares of the company’s stock valued at $232,000 after acquiring an additional 638 shares during the last quarter. RB Capital Management LLC acquired a new stake in Zoom Communications in the 2nd quarter valued at about $1,537,000. Kera Capital Partners Inc. raised its holdings in Zoom Communications by 41.2% in the 2nd quarter. Kera Capital Partners Inc. now owns 6,497 shares of the company’s stock valued at $507,000 after acquiring an additional 1,895 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Zoom Communications during the 1st quarter worth approximately $999,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Price Performance

Shares of NASDAQ ZM opened at $85.20 on Wednesday. Zoom Communications, Inc. has a 12-month low of $64.41 and a 12-month high of $92.80. The company has a market capitalization of $25.78 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 11.92 and a beta of 0.57. The firm’s 50-day moving average is $76.90 and its two-hundred day moving average is $76.75.

Analysts Set New Price Targets

ZM has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Zoom Communications in a research report on Thursday, May 22nd. Morgan Stanley lifted their price target on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 22nd. Rosenblatt Securities lifted their price objective on shares of Zoom Communications from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Wall Street Zen upgraded shares of Zoom Communications from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Zoom Communications from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.30.

Insider Buying and Selling

In other Zoom Communications news, insider Velchamy Sankarlingam sold 2,595 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $85.09, for a total value of $220,808.55. Following the sale, the insider owned 130,242 shares of the company’s stock, valued at $11,082,291.78. This represents a 1.95% decrease in their ownership of the stock. The sale 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 the company’s stock in a transaction dated 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. Over the last ninety days, insiders have sold 90,400 shares of company stock valued at $6,871,114. 10.78% of the stock is owned by company 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.