Mn Services Vermogensbeheer B.V. Increases Stock Position in Zoom Communications, Inc. $ZM

Key Points

• Mn Services Vermogensbeheer B.V. has increased its stake in Zoom Communications, Inc. by 5.3%, owning a total of 93,900 shares valued at approximately $7.32 million after purchasing an additional 4,700 shares.
• Insider transactions have seen significant sales, including Director Jonathan Chadwick who sold 25,000 shares, marking an 80.97% reduction in his holdings.
• Several analysts have updated their ratings for Zoom Communications, with target prices ranging from $100 to $110, showing a mix of bullish and cautious outlooks.

Mn Services Vermogensbeheer B.V. boosted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,900 shares of the company's stock after purchasing an additional 4,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Zoom Communications were worth $7,322,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Zoom Communications by 2.6% during 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 last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Zoom Communications by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after buying an additional 36,210 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Zoom Communications by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company's stock worth $123,912,000 after purchasing an additional 16,819 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Zoom Communications by 119.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock worth $103,670,000 after acquiring an additional 765,092 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Zoom Communications by 13.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,399,652 shares of the company's stock worth $103,252,000 after purchasing an additional 161,751 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jonathan Chadwick sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total value of $1,871,500.00. Following the sale, the director directly owned 5,875 shares in the company, valued at $439,802.50. This trade represents a 80.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 2,595 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $11,082,291.78. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,400 shares of company stock worth $6,871,114. 11.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

ZM has been the topic of a number of recent research reports. Mizuho increased their target price on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Zacks Research lowered Zoom Communications from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Zoom Communications in a research note on Thursday. Benchmark lifted their target price on Zoom Communications from $102.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Wall Street Zen cut shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $91.30.

Zoom Communications Stock Performance

Shares of ZM stock opened at $84.16 on Friday. The company has a 50 day moving average price of $77.53 and a 200 day moving average price of $76.97. Zoom Communications, Inc. has a one year low of $64.41 and a one year high of $92.80. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 12.10 and a beta of 0.57.

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.

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