Bayforest Capital Ltd Grows Holdings in Zoom Communications, Inc. (NASDAQ:ZM)

Key Points

• Bayforest Capital Ltd significantly increased its position in Zoom Communications by **432.5%**, acquiring a total of **7,934 shares** valued at around **$585,000**.
• Institutional investors own approximately **66.54%** of Zoom's stock, with recent increases in holdings from multiple hedge funds, including Vestcor Inc and XTX Topco Ltd.
• Zoom's stock analysts have varying perspectives, with price targets ranging from **$71.00** to **$87.00** and a consensus rating of "Hold" amid recent stock performance and insider selling activities.

Bayforest Capital Ltd grew its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 432.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,934 shares of the company's stock after purchasing an additional 6,444 shares during the quarter. Bayforest Capital Ltd's holdings in Zoom Communications were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wayfinding Financial LLC purchased a new position in Zoom Communications in the first quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in 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. Raiffeisen Bank International AG purchased a new position in Zoom Communications in the fourth quarter worth approximately $30,000. Colonial Trust Co SC purchased a new position in Zoom Communications in the fourth quarter worth approximately $32,000. Finally, Cloud Capital Management LLC purchased a new position in Zoom Communications in the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ZM shares. Morgan Stanley boosted their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Needham & Company LLC upgraded shares of Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a research report on Thursday, May 22nd. Benchmark restated a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. Piper Sandler lifted their target price on shares of Zoom Communications from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Citigroup cut their target price on shares of Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $87.00.

Zoom Communications Trading Up 1.6%

Shares of NASDAQ ZM traded up $1.16 on Monday, reaching $72.13. 774,092 shares of the company traded hands, compared to its average volume of 2,643,728. Zoom Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a 50 day moving average of $77.15 and a 200 day moving average of $77.70. The stock has a market capitalization of $21.82 billion, a PE ratio of 21.64, a P/E/G ratio of 11.63 and a beta of 0.68.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.35 EPS. The company's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Insider Activity

In other Zoom Communications 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 completion of the sale, the chief operating officer owned 1,978 shares of the company's stock, valued at $147,914.84. This trade represents a 84.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,542 shares of company stock worth $6,609,623. Insiders own 11.51% of the company's stock.

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.