Focus Partners Wealth Sells 10,462 Shares of Zoom Communications, Inc. $ZM

Key Points

• Focus Partners Wealth has decreased its holdings in Zoom Communications, Inc. by 9.9%, selling 10,462 shares and now owning a total of 95,452 shares valued at approximately $7,041,000.
• Several institutional investors have recently adjusted their stakes in Zoom, with a notable increase in holdings by MassMutual Private Wealth & Trust FSB, which raised its position by 177% during the same quarter.
• Analysts have raised price targets for Zoom Communications stock, with a consensus target price of $90.30 and a mixture of ratings ranging from Strong Buy to Sell.

Focus Partners Wealth lessened its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 9.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 95,452 shares of the company's stock after selling 10,462 shares during the period. Focus Partners Wealth's holdings in Zoom Communications were worth $7,041,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wayfinding Financial LLC acquired a new stake in Zoom Communications in the first quarter valued at approximately $25,000. SouthState Corp acquired a new position in shares of Zoom Communications in the first quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB raised its position in Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $28,000 after buying an additional 246 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Zoom Communications during the fourth quarter valued at $30,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Zoom Communications in the 1st quarter valued at about $31,000. Institutional investors own 66.54% of the company's stock.

Zoom Communications Price Performance

NASDAQ:ZM opened at $83.98 on Friday. The company's 50-day moving average is $76.60 and its two-hundred day moving average is $76.59. Zoom Communications, Inc. has a 1-year low of $64.41 and a 1-year high of $92.80. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 11.93 and a beta of 0.57.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Wells Fargo & Company raised 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. Bank of America upped their price target on Zoom Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Rosenblatt Securities raised their price objective on Zoom Communications from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $100.00 price objective on shares of Zoom Communications in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $90.30.

Insider Transactions at Zoom Communications

In related news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 7,661 shares of Zoom Communications stock in a transaction 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 completion of the sale, the insider owned 129,377 shares in the company, valued at $10,026,717.50. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,400 shares of company stock valued at $6,871,114 in the last ninety days. 11.51% of the stock is currently owned by corporate insiders.

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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