Livforsakringsbolaget Skandia Omsesidigt Takes Position in Zoom Communications, Inc. $ZM

Key Points

• Livforsakringsbolaget Skandia Omsesidigt invested $242,000 in Zoom Communications, purchasing 3,104 shares in the second quarter, highlighting institutional interest in the company.
• Zoom's stock recently opened at $85.20, with a market cap of $25.78 billion and a current consensus rating of "Hold" among analysts, who have set an average price target of $90.30.
• Insider trading activity has been notable, with recent sales by directors totaling approximately $6.87 million, indicating some insider profit-taking during the last quarter.

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,104 shares of the company's stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Victory Capital Management Inc. boosted its position in 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 buying an additional 765,092 shares during the period. Vanguard Group Inc. lifted its position 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 worth $1,829,249,000 after purchasing an additional 624,863 shares during the period. Nuveen LLC purchased a new stake in shares of Zoom Communications in the 1st quarter worth approximately $37,646,000. Junto Capital Management LP lifted its position in shares of Zoom Communications by 93.8% in the 1st quarter. Junto Capital Management LP now owns 868,507 shares of the company's stock worth $64,070,000 after purchasing an additional 420,275 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Zoom Communications by 119.5% during the 1st quarter. Citigroup Inc. now owns 593,334 shares of the company's stock worth $43,770,000 after acquiring an additional 323,036 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ZM shares. Mizuho upped their price target on shares of Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Piper Sandler reaffirmed a "neutral" rating and set a $85.00 price objective on shares of Zoom Communications in a report on Friday, August 22nd. Robert W. Baird reduced their target price on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Wall Street Zen cut shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research upgraded shares of Zoom Communications from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Two investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Zoom Communications currently has an average rating of "Moderate Buy" and a consensus target price of $91.30.

Insider Activity at Zoom Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of Zoom Communications stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $83.40, for a total value of $206,415.00. Following the transaction, the director owned 155,119 shares of the company's stock, valued at $12,936,924.60. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 2,595 shares of Zoom Communications stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $85.09, for a total transaction of $220,808.55. Following the sale, the insider owned 130,242 shares in the company, valued at $11,082,291.78. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,400 shares of company stock valued at $6,871,114. Corporate insiders own 11.51% of the company's stock.

Zoom Communications Stock Down 3.1%

Shares of ZM traded down $2.67 during mid-day trading on Friday, hitting $84.16. The company had a trading volume of 5,930,934 shares, compared to its average volume of 3,897,256. The stock has a market cap of $25.46 billion, a PE ratio of 22.21, a P/E/G ratio of 11.73 and a beta of 0.57. The business's 50-day simple moving average is $77.53 and its 200-day simple moving average is $76.97. Zoom Communications, Inc. has a 1-year low of $64.41 and a 1-year high of $92.80.

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.