Credit Agricole S A Lowers Holdings in Zoom Communications, Inc. $ZM

Key Points

• Credit Agricole S A reduced its stake in Zoom Communications, Inc. by 24.6%, holding 14,113 shares worth approximately $1,041,000 as of its latest SEC filing.
• Several other institutional investors have also adjusted their positions in Zoom, with hedge funds and institutional investors now owning 66.54% of the company’s stock.
• Analysts have mixed ratings for Zoom, with a consensus target price of $89.00 and assessments ranging from "Strong Buy" to "Sell."

Credit Agricole S A lessened its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,113 shares of the company's stock after selling 4,615 shares during the quarter. Credit Agricole S A's holdings in Zoom Communications were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications in the 1st quarter worth about $25,000. SouthState Corp purchased a new position in shares of Zoom Communications in the 1st quarter worth about $25,000. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 purchasing an additional 246 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Zoom Communications in the 4th quarter worth about $30,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Zoom Communications in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. KeyCorp decreased their target price on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating for the company in a research report on Friday. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 target price on shares of Zoom Communications in a research report on Thursday, May 22nd. Piper Sandler reissued a "neutral" rating and issued a $85.00 target price on shares of Zoom Communications in a research report on Friday. Robert W. Baird decreased their target price on Zoom Communications from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Stifel Nicolaus decreased their target price on Zoom Communications from $85.00 to $80.00 and set a "hold" rating for the company in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Zoom Communications presently has an average rating of "Hold" and a consensus target price of $89.00.

Zoom Communications Stock Up 12.7%

Zoom Communications stock opened at $82.47 on Monday. The business has a 50-day simple moving average of $75.08 and a two-hundred day simple moving average of $76.57. The company has a market cap of $24.95 billion, a P/E ratio of 21.76, a P/E/G ratio of 21.46 and a beta of 0.68. Zoom Communications, Inc. has a 52-week low of $64.41 and a 52-week high of $92.80.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 7,661 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the transaction, the insider owned 129,377 shares of the company's stock, valued at approximately $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 worth $6,609,623. 10.78% of the stock is 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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