Teza Capital Management LLC Invests $341,000 in Zoom Communications, Inc. $ZM

Key Points

• Teza Capital Management LLC acquired 4,626 shares of Zoom Communications, valued at approximately $341,000, indicating increasing institutional interest in the company.
• CEO Eric S. Yuan sold 33,691 shares at about $74.79 each, amounting to roughly $2.52 million, highlighting insider activity within the company.
• Analysts have set varying price targets for Zoom Communications, ranging from $85.00 to $100.00, with a consensus rating of "Hold" and an average target price of $90.30.

Teza Capital Management LLC purchased a new stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,626 shares of the company's stock, valued at approximately $341,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ZM. Victory Capital Management Inc. increased its holdings in shares of Zoom Communications by 119.5% in the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock valued at $103,670,000 after purchasing an additional 765,092 shares in the last quarter. Vanguard Group Inc. boosted its stake in Zoom Communications by 2.6% in the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after acquiring an additional 624,863 shares during the last quarter. Nuveen LLC bought a new position in Zoom Communications in the first quarter valued at approximately $37,646,000. Junto Capital Management LP boosted its stake in Zoom Communications by 93.8% in the first quarter. Junto Capital Management LP now owns 868,507 shares of the company's stock valued at $64,070,000 after acquiring an additional 420,275 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in Zoom Communications by 119.5% in the first quarter. Citigroup Inc. now owns 593,334 shares of the company's stock valued at $43,770,000 after acquiring an additional 323,036 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Communications Price Performance

ZM stock traded down $0.77 during midday trading on Friday, hitting $83.98. The company's stock had a trading volume of 1,880,133 shares, compared to its average volume of 2,828,276. Zoom Communications, Inc. has a twelve month low of $64.41 and a twelve month high of $92.80. The company's fifty day moving average price is $76.48 and its 200 day moving average price is $76.50. The stock has a market capitalization of $25.41 billion, a P/E ratio of 22.16, a PEG ratio of 11.79 and a beta of 0.57.

Insider Transactions at Zoom Communications

In other Zoom Communications news, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the sale, the director directly owned 5,875 shares in the company, valued at approximately $439,802.50. The trade was a 80.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 33,691 shares of Zoom Communications stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 90,400 shares of company stock worth $6,871,114. 11.51% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. KeyCorp reduced their price objective on shares of Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a research note on Friday, August 22nd. Royal Bank Of Canada raised their price objective on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Morgan Stanley raised their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Zoom Communications has a consensus rating of "Hold" and a consensus target price of $90.30.

About Zoom Communications

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.