24,363 Shares in Zoom Communications, Inc. $ZM Bought by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC purchased a new position in Zoom Communications, Inc., buying 24,363 shares worth approximately $1.9 million.
• Zoom's market capitalization is $25.27 billion, with analysts giving it an average rating of "Moderate Buy" and a price target of $91.30.
• Recent insider selling indicates a decrease in ownership, with directors selling a total of 90,400 shares valued at nearly $6.87 million over the last 90 days.

Counterpoint Mutual Funds LLC bought a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 24,363 shares of the company's stock, valued at approximately $1,900,000.

Several other institutional investors have also recently bought and sold shares of ZM. Wayfinding Financial LLC bought a new position in shares of Zoom Communications during the 1st quarter worth about $25,000. SouthState Corp bought a new stake in Zoom Communications in the first quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its stake in Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares during the period. GKV Capital Management Co. Inc. bought a new stake in Zoom Communications in the first quarter valued at about $31,000. Finally, Brooklyn Investment Group increased its stake in Zoom Communications by 277.8% in the first quarter. Brooklyn Investment Group now owns 442 shares of the company's stock valued at $33,000 after acquiring an additional 325 shares during the period. Institutional investors own 66.54% of the company's stock.

Zoom Communications Trading Down 0.7%

Shares of ZM stock opened at $83.53 on Tuesday. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The firm's 50 day moving average is $77.71 and its 200-day moving average is $77.04. The firm has a market capitalization of $25.27 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 11.73 and a beta of 0.57.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZM. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 target price on shares of Zoom Communications in a research note on Thursday, September 18th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Zoom Communications in a research report on Thursday, September 18th. Mizuho boosted their price target on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Stifel Nicolaus boosted their price target on shares of Zoom Communications from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, September 18th. Finally, Zacks Research upgraded shares of Zoom Communications from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 18th. Two research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.30.

Insider Buying and Selling at Zoom Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $83.40, for a total transaction of $206,415.00. Following the completion of the sale, the director directly owned 155,119 shares of the company's stock, valued at $12,936,924.60. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan Chadwick sold 25,000 shares of the business'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 transaction of $1,871,500.00. Following the sale, the director directly owned 5,875 shares of the company's stock, valued at approximately $439,802.50. This trade represents a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,400 shares of company stock valued at $6,871,114 over the last 90 days. Company insiders own 10.78% of the company's stock.

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.

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