Caisse DE Depot ET Placement DU Quebec Has $103.25 Million Stake in Zoom Communications, Inc. $ZM

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Zoom Communications, Inc. by 13.1%, now owning 1,399,652 shares valued at approximately $103.25 million.
• Zoom's stock has seen mixed ratings from analysts, with an average rating of "Hold" and target prices ranging from $75.00 to $95.00.
• Insider trading activity indicates a 5.59% decrease in ownership for some insiders, with 87,542 shares sold over the last quarter.

Caisse DE Depot ET Placement DU Quebec raised its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,399,652 shares of the company's stock after purchasing an additional 161,751 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.46% of Zoom Communications worth $103,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Zoom Communications by 6.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company's stock valued at $172,000 after purchasing an additional 143 shares during the period. Wynn Capital LLC raised its stake in shares of Zoom Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock valued at $752,000 after purchasing an additional 160 shares during the period. New York State Teachers Retirement System raised its stake in shares of Zoom Communications by 0.7% in 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 during the period. Siemens Fonds Invest GmbH raised its stake in shares of Zoom Communications by 3.8% in 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 during the period. Finally, Blue Trust Inc. raised its stake in shares of Zoom Communications by 19.8% in 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 during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ZM shares. Zacks Research downgraded Zoom Communications from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Piper Sandler reaffirmed a "neutral" rating and issued a $85.00 target price on shares of Zoom Communications in a research report on Friday. Morgan Stanley lifted their target price on Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a research report on Friday. Finally, Wells Fargo & Company lifted their target price on Zoom Communications from $75.00 to $80.00 and gave the company 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Zoom Communications currently has an average rating of "Hold" and an average target price of $89.00.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, Director Janet Napolitano sold 2,617 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were 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 in the company, valued at $363,015.84. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 7,661 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total transaction of $593,727.50. Following the transaction, the insider owned 129,377 shares of the company's stock, valued at $10,026,717.50. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,542 shares of company stock valued at $6,609,623. 10.78% of the stock is currently owned by insiders.

Zoom Communications Trading Up 12.7%

Shares of ZM stock opened at $82.47 on Monday. The stock has a market cap of $24.95 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 21.46 and a beta of 0.68. The stock has a 50 day simple moving average of $75.08 and a 200 day simple moving average of $76.57. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80.

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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