OMERS ADMINISTRATION Corp Lowers Stock Position in Zoom Communications, Inc. $ZM

Key Points

• OMERS ADMINISTRATION Corp has significantly reduced its holdings in Zoom Communications, Inc. by 56.3%, leaving it with shares worth approximately $1 million.
• Institutional investors own 66.54% of Zoom's stock, with several firms recently increasing their stakes, including Ameriprise Financial Inc. and Mercer Global Advisors.
• Analysts have varied opinions on Zoom's stock, with an average target price of $90.30, and ratings ranging from Strong Buy to Sell.

OMERS ADMINISTRATION Corp lessened its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 56.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,593 shares of the company's stock after selling 17,500 shares during the period. OMERS ADMINISTRATION Corp's holdings in Zoom Communications were worth $1,003,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. CreativeOne Wealth LLC grew its stake in Zoom Communications by 75.8% during the first quarter. CreativeOne Wealth LLC now owns 17,613 shares of the company's stock valued at $1,299,000 after acquiring an additional 7,597 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Zoom Communications by 13.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,399,652 shares of the company's stock worth $103,252,000 after acquiring an additional 161,751 shares during the last quarter. Connective Capital Management LLC purchased a new stake in shares of Zoom Communications during the 1st quarter worth approximately $2,935,000. Freedom Investment Management Inc. boosted its position in shares of Zoom Communications by 9.8% during the 1st quarter. Freedom Investment Management Inc. now owns 4,760 shares of the company's stock valued at $351,000 after acquiring an additional 423 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in Zoom Communications in the first quarter worth $59,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ZM. Robert W. Baird dropped their price target 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. Mizuho boosted their target price on Zoom Communications from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada raised their price target on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Piper Sandler reissued a "neutral" rating and issued a $85.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. Finally, Wall Street Zen upgraded shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Zoom Communications has an average rating of "Hold" and a consensus target price of $90.30.

Zoom Communications Stock Up 1.9%

ZM stock traded up $1.56 during trading on Wednesday, hitting $83.49. 3,195,320 shares of the company's stock traded hands, compared to its average volume of 3,794,047. The firm has a market capitalization of $25.26 billion, a P/E ratio of 22.03, a PEG ratio of 11.46 and a beta of 0.57. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The business has a fifty day simple moving average of $75.70 and a two-hundred day simple moving average of $76.48.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the 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 filing with the SEC, which is available through this link. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Communications stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the completion of the transaction, the director directly owned 5,875 shares of the company's stock, valued at $439,802.50. The trade was a 80.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,542 shares of company stock worth $6,853,099 over the last ninety days. Company insiders own 10.78% of the company's stock.

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.