Apella Capital LLC Sells 3,754 Shares of Zoom Communications, Inc. $ZM

Key Points

• Apella Capital LLC has reduced its stake in Zoom Communications by 11.9%, selling 3,754 shares, and now holds a total of 27,860 shares valued at $2.15 million.
• The stock's current market capitalization stands at $25.60 billion, with a price-to-earnings ratio of 22.33 and a one-year price range between $64.41 and $92.80.
• Recent analyst activity includes KeyCorp lowering its price target from $73.00 to $69.00 while Wall Street Zen upgraded it to a "strong-buy", indicating mixed investor sentiment.

Apella Capital LLC trimmed its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 11.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 27,860 shares of the company's stock after selling 3,754 shares during the period. Apella Capital LLC's holdings in Zoom Communications were worth $2,150,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ZM. Wayfinding Financial LLC bought a new position in Zoom Communications in the 1st quarter valued at $25,000. SouthState Corp bought a new position in Zoom Communications in the 1st quarter valued at $25,000. MassMutual Private Wealth & Trust FSB boosted its position in Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Zoom Communications in the 4th quarter valued at $30,000. Finally, GKV Capital Management Co. Inc. bought a new position in Zoom Communications in the 1st quarter valued at $31,000. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Price Performance

ZM opened at $84.63 on Tuesday. The business's 50-day moving average price is $76.75 and its two-hundred day moving average price is $76.69. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The company has a market capitalization of $25.60 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 11.82 and a beta of 0.57.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of recent research reports. KeyCorp decreased their price objective on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a research report on Friday, August 22nd. Wall Street Zen upgraded Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Wells Fargo & Company raised their price target on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price target on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, Mizuho raised their price target on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Zoom Communications currently has an average rating of "Hold" and an average price target of $90.30.

Insider Transactions at Zoom Communications

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 2,000 shares of Zoom Communications 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 sale, the director owned 7,901 shares of the company's stock, valued at $655,783. This trade represents a 20.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 2,595 shares of Zoom Communications stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $85.09, for a total value of $220,808.55. Following the completion of the sale, the insider directly owned 130,242 shares in the company, valued at $11,082,291.78. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,400 shares of company stock worth $6,871,114. 11.51% of the stock is currently owned by company insiders.

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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