Livforsakringsbolaget Skandia Omsesidigt Takes $242,000 Position in Zoom Communications, Inc. $ZM

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has made a new investment of approximately $242,000 in Zoom Communications, Inc., acquiring 3,104 shares during the second quarter.
• A significant portion of Zoom's stock, approximately 66.54%, is held by hedge funds and institutional investors, indicating strong institutional interest in the company.
• Insider transactions included the sale of 90,400 shares by insiders over the last three months, raising questions about their confidence in the company's future performance.

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,104 shares of the company's stock, valued at approximately $242,000.

Other institutional investors have also recently made changes to their positions in the company. SouthState Corp purchased a new position in shares of Zoom Communications during the 1st quarter valued at $25,000. Wayfinding Financial LLC purchased a new position in shares of Zoom Communications during the 1st quarter valued at $25,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 buying an additional 246 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new position in shares of Zoom Communications during the 1st quarter valued at $31,000. Finally, Brooklyn Investment Group lifted its position in shares of Zoom Communications by 277.8% during the 1st quarter. Brooklyn Investment Group now owns 442 shares of the company's stock valued at $33,000 after buying an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Buying and Selling at Zoom Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $77.17, for a total transaction of $190,995.75. Following the transaction, the director directly owned 157,235 shares in the company, valued at $12,133,824.95. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the transaction, the chief operating officer owned 1,978 shares in the company, valued at approximately $147,914.84. The trade was a 84.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,400 shares of company stock worth $6,871,114 over the last quarter. Company insiders own 11.51% of the company's stock.

Zoom Communications Stock Performance

ZM traded down $2.67 on Friday, hitting $84.16. 5,930,934 shares of the company were exchanged, compared to its average volume of 3,897,256. The firm has a fifty day simple moving average of $77.53 and a two-hundred day simple moving average of $76.97. Zoom Communications, Inc. has a 12 month low of $64.41 and a 12 month high of $92.80. The stock has a market capitalization of $25.46 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 11.73 and a beta of 0.57.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ZM shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $110.00 price target on shares of Zoom Communications in a research report on Thursday. Wall Street Zen cut Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Wedbush reaffirmed an "outperform" rating and set a $95.00 price target on shares of Zoom Communications in a research report on Friday, August 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $100.00 price target on shares of Zoom Communications in a research report on Thursday. Finally, Dbs Bank upgraded Zoom Communications to a "moderate buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.30.

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.