Candriam S.C.A. Makes New $818,000 Investment in Zoom Communications, Inc. $ZM

Key Points

• Candriam S.C.A. recently invested $818,000 in Zoom Communications, acquiring 11,083 shares, signaling growing institutional interest in the company.
• Zoom Communications' stock increased by 12.7%, with current trading around $82.47, and it has a market capitalization of $24.95 billion.
• Wall Street analysts have mixed opinions, with price targets ranging from $84.00 to $100.00, reflecting a consensus rating of "Hold" and an average price target of $89.00.

Candriam S.C.A. bought a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,083 shares of the company's stock, valued at approximately $818,000.

A number of other large investors have also added to or reduced their stakes in ZM. Envestnet Asset Management Inc. raised its holdings in Zoom Communications by 11.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 29,147 shares of the company's stock worth $2,379,000 after purchasing an additional 3,064 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Zoom Communications by 8.2% during the fourth quarter. NewEdge Advisors LLC now owns 6,856 shares of the company's stock worth $560,000 after acquiring an additional 521 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Zoom Communications by 89.6% during the fourth quarter. MML Investors Services LLC now owns 17,812 shares of the company's stock worth $1,454,000 after acquiring an additional 8,417 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Zoom Communications by 1,065.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,614 shares of the company's stock worth $295,000 after acquiring an additional 3,304 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Zoom Communications by 3.3% during the fourth quarter. Stifel Financial Corp now owns 13,910 shares of the company's stock worth $1,135,000 after acquiring an additional 450 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Stock Up 12.7%

Zoom Communications stock opened at $82.47 on Monday. Zoom Communications, Inc. has a 52 week low of $64.41 and a 52 week high of $92.80. The company has a market capitalization of $24.95 billion, a price-to-earnings 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 moving average price of $75.08 and a 200 day moving average price of $76.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZM shares. Royal Bank Of Canada boosted their price target on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday. Citigroup dropped their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Bank of America boosted their price target on Zoom Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Wedbush restated an "outperform" rating and set a $95.00 price target on shares of Zoom Communications in a research note on Friday. Finally, Scotiabank lifted their target price on Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $89.00.

Insider Activity at Zoom Communications

In related news, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction that occurred 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 in the company, valued at approximately $363,015.84. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 10,528 shares of Zoom Communications 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 transaction, the chief operating officer owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This represents a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,542 shares of company stock valued at $6,609,623 in the last 90 days. 10.78% of the stock is currently owned by corporate 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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