97,717 Shares in Zoom Communications, Inc. $ZM Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP acquired a new position in Zoom Communications, purchasing 97,717 shares valued at approximately $7.2 million during the first quarter.
• Insider transactions included COO Aparna Bawa and CEO Eric S. Yuan selling a combined total of 44,219 shares, reflecting significant changes in their ownership positions.
• Zoom Communications' shares are currently valued at around $83.98, with analysts offering varied ratings and target prices ranging from $85.00 to $100.00.

Woodline Partners LP purchased a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 97,717 shares of the company's stock, valued at approximately $7,209,000.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp bought a new position in Zoom Communications in the 1st quarter worth about $25,000. Wayfinding Financial LLC bought a new position in Zoom Communications in the 1st quarter worth about $25,000. Raiffeisen Bank International AG bought a new position in Zoom Communications in the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after purchasing an additional 246 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in Zoom Communications in the 1st quarter worth about $31,000. Institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Communications

In other news, COO Aparna Bawa sold 10,528 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer owned 1,978 shares in the company, valued at $147,914.84. This represents a 84.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was 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 worth $6,871,114. 11.51% of the stock is currently owned by corporate insiders.

Zoom Communications Stock Down 0.9%

Shares of NASDAQ:ZM opened at $83.98 on Friday. The firm's 50 day moving average price is $76.60 and its 200-day moving average price is $76.57. Zoom Communications, Inc. has a twelve month low of $64.41 and a twelve month high of $92.80. The stock has a market capitalization of $25.41 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 11.93 and a beta of 0.57.

Wall Street Analyst Weigh In

ZM has been the topic of a number of analyst reports. Mizuho upped their price target on shares of Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 26th. Scotiabank upped their target price on shares of Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. Bank of America upped their target price on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Zacks Research cut shares of Zoom Communications from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, William Blair restated an "outperform" rating on shares of Zoom Communications in a research note on Thursday, May 22nd. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $90.30.

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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