Lansforsakringar Fondforvaltning AB publ Has $5.93 Million Stock Holdings in Zoom Communications, Inc. $ZM

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Zoom Communications, Inc. by 9.6%, ending the first quarter with approximately $5.93 million in holdings.
• Analysts have mixed ratings for Zoom, with Scotiabank raising its price target to $85.00, while Zacks Research downgraded the stock to a "hold" rating.
• Insiders have sold a total of 93,017 shares valued at over $7 million in the last 90 days, indicating a significant decrease in ownership by key executives.

Lansforsakringar Fondforvaltning AB publ decreased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,369 shares of the company's stock after selling 8,534 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Zoom Communications were worth $5,929,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ZM. Wayfinding Financial LLC acquired a new stake in Zoom Communications during the 1st quarter valued at $25,000. SouthState Corp acquired a new stake in Zoom Communications during the 1st quarter valued at $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after purchasing an additional 246 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Zoom Communications during the 4th quarter valued at $30,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in Zoom Communications during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ZM shares. Scotiabank raised their price target on Zoom Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 16th. Stifel Nicolaus dropped their target price on Zoom Communications from $85.00 to $80.00 and set a "hold" rating for the company in a report on Friday, August 22nd. Zacks Research downgraded Zoom Communications from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Wells Fargo & Company lifted their target price on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird dropped their target price on Zoom Communications from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $90.30.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 10,528 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the completion of the transaction, the chief operating officer owned 1,978 shares of the company's stock, valued at $147,914.84. The trade was a 84.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janet Napolitano sold 2,617 shares of the business's stock in a transaction dated 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 approximately $363,015.84. This trade represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,017 shares of company stock valued at $7,052,757 over the last 90 days. 11.51% of the stock is owned by company insiders.

Zoom Communications Stock Up 0.7%

ZM stock opened at $81.42 on Friday. The company has a market cap of $24.63 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 12.50 and a beta of 0.68. The business has a 50-day simple moving average of $75.37 and a 200 day simple moving average of $76.48. Zoom Communications, Inc. has a 52 week low of $64.41 and a 52 week high of $92.80.

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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