Zoom Communications, Inc. (NASDAQ:ZM) Shares Acquired by Bayforest Capital Ltd

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 increased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 432.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Other institutional investors have also recently made changes to their positions in the company. Wynn Capital LLC grew its holdings in Zoom Communications by 1.6% during the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock valued at $752,000 after buying an additional 160 shares in the last quarter. New York State Teachers Retirement System raised its position in Zoom Communications by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock valued at $1,792,000 after purchasing an additional 171 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in Zoom Communications by 3.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock valued at $391,000 after purchasing an additional 174 shares in the last quarter. Blue Trust Inc. raised its position in Zoom Communications by 19.8% during the 1st quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock valued at $78,000 after purchasing an additional 175 shares in the last quarter. Finally, Burns Matteson Capital Management LLC raised its position in shares of Zoom Communications by 3.1% in the 1st quarter. Burns Matteson Capital Management LLC now owns 5,801 shares of the company's stock worth $428,000 after acquiring an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Communications Price Performance

Shares of NASDAQ:ZM traded down $3.08 during midday trading on Friday, hitting $70.97. The company had a trading volume of 3,358,248 shares, compared to its average volume of 3,285,192. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 12.13 and a beta of 0.68. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The business's 50-day simple moving average is $77.15 and its 200-day simple moving average is $77.73.

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

Insider Transactions at Zoom Communications

In related news, insider Velchamy Sankarlingam sold 7,661 shares of Zoom Communications stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total value of $593,727.50. Following the completion of the transaction, the insider directly owned 129,377 shares in the company, valued at approximately $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction on Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director owned 4,728 shares of the company's stock, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,017 shares of company stock valued at $6,804,703 in the last 90 days. Insiders own 11.51% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on ZM shares. Benchmark reissued a "buy" rating and issued a $97.00 price target on shares of Zoom Communications in a research report on Tuesday, May 20th. Scotiabank boosted their price target on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. Wall Street Zen downgraded Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. upped their target price on Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Communications currently has a consensus rating of "Hold" and an average target price of $87.00.

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.