Donald L. Hagan LLC Boosts Stake in Zoom Communications, Inc. $ZM

Key Points

• Donald L. Hagan LLC increased its stake in Zoom Communications, Inc. by 92.9% in Q2, owning a total of 18,529 shares valued at approximately $1,445,000.
• Multiple institutional investors have adjusted their positions in Zoom, with a reported 66.54% of the company's stock now held by hedge funds and institutional entities.
• Research analysts have given Zoom Communications a consensus rating of "Moderate Buy" with an average price target of $91.74.

Donald L. Hagan LLC grew its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 92.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,529 shares of the company's stock after buying an additional 8,925 shares during the period. Donald L. Hagan LLC's holdings in Zoom Communications were worth $1,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wedmont Private Capital raised its holdings in shares of Zoom Communications by 4.1% in the second quarter. Wedmont Private Capital now owns 3,499 shares of the company's stock worth $271,000 after buying an additional 137 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Zoom Communications by 6.7% in the first 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 last quarter. Wynn Capital LLC grew its position in Zoom Communications by 1.6% during the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after purchasing an additional 160 shares during the period. New York State Teachers Retirement System grew its position in Zoom Communications by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after purchasing an additional 171 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Zoom Communications by 44.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 556 shares of the company's stock worth $43,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ZM shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price target on shares of Zoom Communications in a research report on Thursday, September 18th. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a research report on Tuesday. Wedbush reaffirmed an "outperform" rating and set a $95.00 price target on shares of Zoom Communications in a research report on Friday, August 22nd. Wells Fargo & Company set a $90.00 price target on Zoom Communications in a research report on Tuesday. Finally, Citigroup lifted their price objective on shares of Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Zoom Communications has an average rating of "Moderate Buy" and a consensus target price of $91.74.

Zoom Communications Stock Performance

ZM opened at $82.50 on Wednesday. The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 11.54 and a beta of 0.57. The company has a fifty day moving average of $78.74 and a two-hundred day moving average of $77.43. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80.

Insider Buying and Selling at Zoom Communications

In other news, Director Herbert Raymond Mcmaster sold 2,000 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $83.00, for a total transaction of $166,000.00. Following the completion of the sale, the director owned 7,901 shares of the company's stock, valued at $655,783. The trade was a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,925 shares of company stock valued at $6,680,119. Corporate insiders own 10.78% of the company's stock.

Zoom Communications 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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