Lecap Asset Management Ltd. Reduces Stock Holdings in Zoom Communications, Inc. $ZM

Key Points

• Lecap Asset Management Ltd. has reduced its holdings in Zoom Communications by 14.1%, selling 4,530 shares and now owning a total of 27,562 shares, which represents 0.8% of its overall portfolio.
• Other institutional investors have increased their stakes in Zoom, with Principal Financial Group Inc. boosting their holdings by 18.5% in the first quarter.
• Equities analysts have varied outlooks on Zoom Communications, with some upgrading to a "moderate buy" and others lowering target prices, resulting in a consensus rating of "Moderate Buy" with an average price target of $91.74.

Lecap Asset Management Ltd. decreased its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 14.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,562 shares of the company's stock after selling 4,530 shares during the quarter. Zoom Communications comprises 0.8% of Lecap Asset Management Ltd.'s portfolio, making the stock its 24th biggest holding. Lecap Asset Management Ltd.'s holdings in Zoom Communications were worth $2,149,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Zoom Communications by 18.5% in the 1st quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock worth $12,977,000 after purchasing an additional 27,430 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Zoom Communications by 15.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock valued at $880,000 after acquiring an additional 1,601 shares during the period. Yousif Capital Management LLC boosted its holdings in Zoom Communications by 31.9% during the 1st quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after acquiring an additional 1,076 shares during the period. Spire Wealth Management boosted its holdings in Zoom Communications by 990.6% during the 1st quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after acquiring an additional 1,268 shares during the period. Finally, Circle Wealth Management LLC boosted its holdings in Zoom Communications by 201.6% during the 1st quarter. Circle Wealth Management LLC now owns 20,391 shares of the company's stock valued at $1,504,000 after acquiring an additional 13,629 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Communications

In related news, CEO Eric S. Yuan sold 33,691 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the company'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 transaction, the director directly owned 5,875 shares in the company, valued at $439,802.50. This represents a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,925 shares of company stock worth $6,680,119. Company insiders own 11.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ZM shares. Piper Sandler restated a "neutral" rating and set a $85.00 price objective on shares of Zoom Communications in a report on Friday, August 22nd. Dbs Bank raised Zoom Communications to a "moderate buy" rating in a research report on Tuesday, September 16th. Robert W. Baird decreased their target price on Zoom Communications from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Zacks Research raised Zoom Communications from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 18th. Finally, Benchmark lifted their target price on Zoom Communications from $102.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.74.

Zoom Communications Trading Down 1.5%

ZM opened at $81.28 on Thursday. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 11.39 and a beta of 0.78. Zoom Communications, Inc. has a 12 month low of $64.41 and a 12 month high of $92.80. The stock has a fifty day moving average price of $78.85 and a 200-day moving average price of $77.45.

Zoom Communications Company 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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