AG2R LA Mondiale Gestion D Actifs Acquires New Position in Zoom Communications, Inc. $ZM

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in Zoom Communications, Inc., purchasing 12,294 shares valued at approximately $999,000 in the first quarter.
• Zoom Communications, Inc. has seen significant insider selling, with insiders offloading 90,400 shares worth over $6.8 million in the last three months.
• Analysts have varying price targets for Zoom, with estimates ranging from $85.00 to $100.00, reflecting a consensus rating of "Hold" with an average price target of $90.30.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,294 shares of the company's stock, valued at approximately $999,000.

A number of other large investors have also recently modified their holdings of the business. SouthState Corp acquired a new position in shares of Zoom Communications during the 1st quarter worth $25,000. Wayfinding Financial LLC bought a new position in Zoom Communications in the first quarter valued at about $25,000. Raiffeisen Bank International AG acquired a new position in Zoom Communications during the fourth quarter worth about $30,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Zoom Communications by 177.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after acquiring an additional 246 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Zoom Communications in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Communications Stock Performance

Shares of NASDAQ:ZM opened at $83.98 on Monday. Zoom Communications, Inc. has a 52 week low of $64.41 and a 52 week high of $92.80. The firm has a market cap of $25.41 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 11.82 and a beta of 0.57. The firm's fifty day moving average is $76.60 and its 200-day moving average is $76.61.

Insider Transactions at Zoom Communications

In other news, Director Herbert Raymond Mcmaster sold 2,000 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $83.00, for a total value of $166,000.00. Following the completion of the sale, the director owned 7,901 shares of the company's stock, valued at approximately $655,783. This represents a 20.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 2,595 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $85.09, for a total value of $220,808.55. Following the transaction, the insider owned 130,242 shares of the company's stock, 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. In the last three months, insiders have sold 90,400 shares of company stock worth $6,871,114. 10.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZM. William Blair reiterated an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Robert W. Baird lowered their price target 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. Royal Bank Of Canada increased their price target on Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Citigroup raised their price objective on Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued 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, the stock currently has a consensus rating of "Hold" and an average price target 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.

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