Bayforest Capital Ltd Grows Stock Holdings in Zoom Communications, Inc. $ZM

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Zoom Communications, acquiring 6,444 additional shares, raising their total ownership by 432.5% in the first quarter, with a total value of $585,000.
• Various institutional investors adjusted their positions, with notable increases including Principal Financial Group by 18.5% and Circle Wealth Management by 201.6% during the same period.
• Wall Street analysts rated Zoom Communications with a mix of recommendations, resulting in an average rating of "Hold" and a consensus price target of $90.30.

Bayforest Capital Ltd lifted its position 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 & Exchange Commission. The institutional investor owned 7,934 shares of the company's stock after acquiring an additional 6,444 shares during the period. Bayforest Capital Ltd's holdings in Zoom Communications were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Zoom Communications by 18.5% during the first quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock valued at $12,977,000 after acquiring an additional 27,430 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Zoom Communications by 15.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock valued at $880,000 after acquiring an additional 1,601 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Zoom Communications by 31.9% during the first quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after acquiring an additional 1,076 shares in the last quarter. Spire Wealth Management increased its position in shares of Zoom Communications by 990.6% during the first quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Circle Wealth Management LLC increased its position in shares of Zoom Communications by 201.6% during the first quarter. Circle Wealth Management LLC now owns 20,391 shares of the company's stock valued at $1,504,000 after acquiring an additional 13,629 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ZM shares. KeyCorp cut their target price on shares of Zoom Communications from $73.00 to $69.00 and set an "underweight" rating for the company in a research report on Friday, August 22nd. Piper Sandler reaffirmed a "neutral" rating and issued a $85.00 target price on shares of Zoom Communications in a research report on Friday, August 22nd. Royal Bank Of Canada lifted their target price on shares of Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Mizuho lifted their target price on shares of Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Finally, Morgan Stanley lifted their target price 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. One equities 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $90.30.

Zoom Communications Price Performance

Shares of ZM stock opened at $85.62 on Wednesday. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The firm has a fifty day moving average price of $76.23 and a 200-day moving average price of $76.43. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 11.98 and a beta of 0.57.

Insider Buying and Selling

In related news, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the completion of the transaction, the director owned 5,875 shares of the company's stock, valued at approximately $439,802.50. This represents a 80.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Janet Napolitano sold 2,617 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $76.78, for a total transaction of $200,933.26. Following the completion of the transaction, the director directly owned 4,728 shares of the company's stock, valued at $363,015.84. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,422 shares of company stock worth $6,851,239 in the last three months. Corporate insiders own 10.78% of the company's stock.

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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