25,319 Shares in Zoom Communications, Inc. $ZM Acquired by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $1.87 million in Zoom Communications, acquiring 25,319 shares during the 1st quarter.
• Several hedge funds significantly increased their holdings in Zoom, with Kettle Hill Capital boosting its stake by 319.5%.
• Analyst ratings for Zoom show a mix of opinions, with one Strong Buy, ten Buy ratings, and an overall average rating of Hold, suggesting a consensus price target of $90.30.

Jacobs Levy Equity Management Inc. purchased a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,319 shares of the company's stock, valued at approximately $1,868,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZM. Vanguard Group Inc. raised its holdings in shares of Zoom Communications by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after purchasing an additional 624,863 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Zoom Communications by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after purchasing an additional 36,210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Zoom Communications by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company's stock valued at $340,642,000 after purchasing an additional 87,775 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Zoom Communications by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company's stock valued at $123,912,000 after purchasing an additional 16,819 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Zoom Communications by 119.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock valued at $103,670,000 after purchasing an additional 765,092 shares during the period. 66.54% of the stock is owned by institutional investors.

Zoom Communications Price Performance

Zoom Communications stock traded down $0.77 during trading hours on Friday, hitting $83.98. The company had a trading volume of 1,880,133 shares, compared to its average volume of 4,202,955. The firm has a market cap of $25.41 billion, a PE ratio of 22.16, a PEG ratio of 11.93 and a beta of 0.57. Zoom Communications, Inc. has a one year low of $64.41 and a one year high of $92.80. The firm has a 50-day moving average of $76.60 and a 200 day moving average of $76.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ZM shares. JPMorgan Chase & Co. upped their target price on shares of Zoom Communications from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Benchmark reaffirmed a "buy" rating and issued a $97.00 target price on shares of Zoom Communications in a report on Tuesday, May 20th. Wall Street Zen raised shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a report on Friday, August 22nd. Finally, Piper Sandler reissued a "neutral" rating and issued a $85.00 price target on shares of Zoom Communications in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $90.30.

Insider Activity

In other Zoom Communications news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $77.17, for a total transaction of $190,995.75. Following the transaction, the director owned 157,235 shares in the company, valued at $12,133,824.95. This represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 10,528 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the sale, the chief operating officer owned 1,978 shares in the company, valued at $147,914.84. This represents a 84.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,400 shares of company stock worth $6,871,114. Insiders own 11.51% of the company's stock.

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.