129,924 Shares in Zoom Communications, Inc. $ZM Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in Zoom Communications, Inc., purchasing 129,924 shares valued at approximately $10.29 million.
• Several analysts have recently adjusted their ratings on Zoom Communications, with price targets ranging from $69.00 to $100.00, leading to an overall average rating of "Moderate Buy."
• Insider transactions revealed significant stock sales by company executives, with one director selling 25,000 shares worth approximately $1.87 million, indicating decreased ownership levels among insiders.

Kingstone Capital Partners Texas LLC purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 129,924 shares of the company's stock, valued at approximately $10,291,000.

Other large investors have also modified their holdings of the company. Vident Advisory LLC purchased a new position in shares of Zoom Communications in the 4th quarter valued at $365,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Zoom Communications in the 4th quarter valued at about $275,000. GF Fund Management CO. LTD. acquired a new stake in Zoom Communications during the 4th quarter worth approximately $148,000. Toronto Dominion Bank boosted its position in Zoom Communications by 4.9% during the fourth quarter. Toronto Dominion Bank now owns 33,541 shares of the company's stock worth $2,737,000 after purchasing an additional 1,576 shares during the period. Finally, Peak Retirement Planning Inc. acquired a new position in Zoom Communications during the fourth quarter worth about $961,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZM shares. Piper Sandler reissued a "neutral" rating and issued a $85.00 price objective on shares of Zoom Communications in a report on Friday, August 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target on shares of Zoom Communications in a report on Thursday. KeyCorp lowered their price objective on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating for the company in a research note on Friday, August 22nd. Dbs Bank raised Zoom Communications to a "moderate buy" rating in a report on Tuesday, September 16th. Finally, Wall Street Zen lowered Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $91.30.

Zoom Communications Stock Performance

Shares of Zoom Communications stock traded down $2.67 on Friday, reaching $84.16. The stock had a trading volume of 5,930,934 shares, compared to its average volume of 3,393,836. The business's 50-day moving average price is $77.53 and its two-hundred day moving average price is $76.99. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80. The stock has a market cap of $25.46 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 11.73 and a beta of 0.57.

Insider Buying and Selling

In related news, Director Herbert Raymond Mcmaster sold 2,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $83.00, for a total transaction of $166,000.00. Following the completion of the transaction, the director directly owned 7,901 shares of the company's stock, valued at $655,783. This trade represents a 20.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total value of $1,871,500.00. Following the completion of the sale, the director directly owned 5,875 shares of the company's stock, valued at $439,802.50. The trade was a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,400 shares of company stock valued at $6,871,114. Corporate insiders own 10.78% 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.