FORA Capital LLC Reduces Stock Position in Zoom Communications, Inc. $ZM

Key Points

• FORA Capital LLC significantly reduced its stake in Zoom Communications by 73.4%, now holding only 10,891 shares worth $803,000.
• Several institutional investors, including Smartleaf Asset Management and Wynn Capital, have increased their positions in Zoom Communications during the first quarter.
• Analyst ratings for ZM stock remain predominantly positive, with an average rating of "Hold" and a consensus target price of $90.30.

FORA Capital LLC reduced its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 73.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,891 shares of the company's stock after selling 30,056 shares during the period. FORA Capital LLC's holdings in Zoom Communications were worth $803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Smartleaf Asset Management LLC increased its stake in shares of Zoom Communications by 6.7% during 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 in the last quarter. Wynn Capital LLC raised its position in Zoom Communications by 1.6% in the first quarter. Wynn Capital LLC now owns 10,194 shares of the company's stock worth $752,000 after acquiring an additional 160 shares during the period. New York State Teachers Retirement System raised its position in Zoom Communications by 0.7% in the first quarter. New York State Teachers Retirement System now owns 24,298 shares of the company's stock worth $1,792,000 after acquiring an additional 171 shares during the period. Siemens Fonds Invest GmbH raised its position in Zoom Communications by 3.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,732 shares of the company's stock worth $391,000 after acquiring an additional 174 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Zoom Communications by 19.8% during the 1st quarter. Blue Trust Inc. now owns 1,059 shares of the company's stock valued at $78,000 after purchasing an additional 175 shares during the period. Institutional investors own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

ZM has been the topic of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Bank of America raised their price objective on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Morgan Stanley raised their price objective on shares of Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. William Blair restated an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, Wedbush reiterated an "outperform" rating and issued a $95.00 price target on shares of Zoom Communications in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $90.30.

Insiders Place Their Bets

In other Zoom Communications news, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction on Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director directly owned 4,728 shares of the company's stock, valued at $363,015.84. This trade represents a 35.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 33,691 shares of Zoom Communications stock in a transaction on 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 sold 93,017 shares of company stock worth $7,052,757. Insiders own 11.51% of the company's stock.

Zoom Communications Stock Up 2.7%

Shares of NASDAQ:ZM opened at $80.96 on Thursday. Zoom Communications, Inc. has a 52 week low of $64.41 and a 52 week high of $92.80. The stock has a market capitalization of $24.49 billion, a P/E ratio of 21.36, a PEG ratio of 12.14 and a beta of 0.68. The firm has a fifty day simple moving average of $75.23 and a two-hundred day simple moving average of $76.59.

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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