Caxton Associates LLP Invests $1.19 Million in Zoom Communications, Inc. $ZM

Key Points

• Caxton Associates LLP acquired a stake of approximately $1.19 million in Zoom Communications, Inc., purchasing 16,075 shares during the first quarter.
• Institutional investors currently own 66.54% of Zoom's shares, with several hedge funds making new positions or increasing their stakes in the first quarter.
• Insiders at Zoom have sold around 90,422 shares in the last quarter, totaling $6.85 million, with director Herbert Raymond Mcmaster reducing his position by 20.20% through a recent sale.

Caxton Associates LLP acquired a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 16,075 shares of the company's stock, valued at approximately $1,186,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. Wayfinding Financial LLC bought a new position in Zoom Communications in the 1st quarter worth about $25,000. SouthState Corp bought a new position in Zoom Communications in the 1st quarter worth about $25,000. MassMutual Private Wealth & Trust FSB increased its stake in Zoom Communications by 177.0% in the 1st 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 bought a new position in shares of Zoom Communications during the 4th quarter valued at about $30,000. Finally, GKV Capital Management Co. Inc. bought a new position in shares of Zoom Communications during the 1st quarter valued at about $31,000. 66.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 2,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $83.00, for a total value of $166,000.00. Following the completion of the sale, the director owned 7,901 shares in the company, valued at approximately $655,783. This trade represents a 20.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $83.40, for a total value of $206,415.00. Following the completion of the sale, the director owned 155,119 shares of the company's stock, valued at approximately $12,936,924.60. This trade represents a 1.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,422 shares of company stock worth $6,851,239. Insiders own 10.78% of the company's stock.

Zoom Communications Price Performance

Shares of ZM stock opened at $85.62 on Wednesday. The stock has a market capitalization of $25.90 billion, a PE ratio of 22.59, a P/E/G ratio of 11.98 and a beta of 0.57. Zoom Communications, Inc. has a 1-year low of $64.41 and a 1-year high of $92.80. The business has a 50-day moving average of $76.23 and a 200 day moving average of $76.43.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. KeyCorp reduced their price objective on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a research report on Friday, August 22nd. Benchmark reiterated a "buy" rating and set a $97.00 price objective on shares of Zoom Communications in a research report on Tuesday, May 20th. Bank of America increased their price objective on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Finally, Mizuho increased their price objective on Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. One 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $90.30.

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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