3,659 Shares in Zoom Communications, Inc. $ZM Purchased by 111 Capital

Key Points

• 111 Capital has acquired a new position in Zoom Communications, purchasing 3,659 shares worth approximately $285,000 in the second quarter.
• CEO Eric S. Yuan recently sold 33,691 shares of the stock for over $2.5 million, indicating significant insider trading activity.
• Analysts have varied opinions, with Mizuho raising its price target to $100.00 while Robert W. Baird lowered theirs to $95.00, suggesting a mixed outlook for the stock.

111 Capital purchased a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,659 shares of the company's stock, valued at approximately $285,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wedmont Private Capital raised its position in Zoom Communications by 4.1% in the second quarter. Wedmont Private Capital now owns 3,499 shares of the company's stock worth $271,000 after purchasing an additional 137 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Zoom Communications by 6.7% in the first quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company's stock worth $172,000 after purchasing an additional 143 shares in the last quarter. New York State Teachers Retirement System raised its position in Zoom Communications by 0.7% in the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after purchasing an additional 171 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Zoom Communications by 44.4% in 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 in the last quarter. Finally, Blue Trust Inc. raised its position in Zoom Communications by 19.8% in the first quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock worth $78,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Buying and Selling at Zoom Communications

In other news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 2,595 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $85.09, for a total transaction of $220,808.55. Following the sale, the insider directly owned 130,242 shares in the company, valued at $11,082,291.78. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,925 shares of company stock valued at $6,680,119 over the last three months. Insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. Robert W. Baird dropped their price objective on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, August 22nd. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a report on Tuesday, September 30th. Mizuho raised their price objective on shares of Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Communications in a report on Thursday, September 18th. Finally, Benchmark raised their price objective on shares of Zoom Communications from $102.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $91.74.

Zoom Communications Price Performance

ZM opened at $81.03 on Tuesday. Zoom Communications, Inc. has a one year low of $64.41 and a one year high of $92.80. The company's 50 day simple moving average is $79.22 and its 200-day simple moving average is $77.60. The stock has a market capitalization of $24.52 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 11.18 and a beta of 0.78.

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.

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