PharVision Advisers LLC Buys Shares of 5,605 Zoom Communications, Inc. $ZM

Key Points

• PharVision Advisers LLC has acquired 5,605 shares of Zoom Communications, valued at approximately $413,000, during the 1st quarter, making the stock their 29th largest holding.
• Several institutional investors, including Vanguard Group Inc. and T. Rowe Price Investment Management Inc., have increased their shares in Zoom Communications, indicating growing institutional interest.
• Analysts have mixed ratings for Zoom Communications, with a target price ranging from $79.00 to $110.00, resulting in an overall rating of "Hold" and an average price target of $90.30.

PharVision Advisers LLC acquired a new position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,605 shares of the company's stock, valued at approximately $413,000. Zoom Communications makes up approximately 0.6% of PharVision Advisers LLC's investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZM. Stifel Financial Corp increased its stake in shares of Zoom Communications by 3.3% in the fourth quarter. Stifel Financial Corp now owns 13,910 shares of the company's stock worth $1,135,000 after purchasing an additional 450 shares in the last quarter. Comerica Bank increased its stake in shares of Zoom Communications by 18.5% in the fourth quarter. Comerica Bank now owns 3,502 shares of the company's stock worth $286,000 after purchasing an additional 547 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Zoom Communications by 15.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,962 shares of the company's stock worth $1,466,000 after purchasing an additional 2,437 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Zoom Communications by 17.8% during the fourth quarter. Ameriprise Financial Inc. now owns 132,120 shares of the company's stock worth $10,779,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Zoom Communications by 58.2% during the fourth quarter. Captrust Financial Advisors now owns 17,975 shares of the company's stock worth $1,467,000 after acquiring an additional 6,614 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Zoom Communications in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Scotiabank upped their target price on shares of Zoom Communications from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Friday, May 16th. Bank of America upped their target price on shares of Zoom Communications from $79.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Finally, Citigroup upped their target price on shares of Zoom Communications from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $90.30.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 33,691 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total value of $2,519,749.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $74.78, for a total transaction of $787,283.84. Following the completion of the transaction, the chief operating officer directly owned 1,978 shares in the company, valued at $147,914.84. This represents a 84.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,542 shares of company stock worth $6,853,099 over the last ninety days. 10.78% of the stock is owned by insiders.

Zoom Communications Price Performance

Shares of ZM traded up $1.40 during midday trading on Monday, hitting $85.08. The stock had a trading volume of 3,983,860 shares, compared to its average volume of 4,012,402. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The firm has a market cap of $25.74 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 11.78 and a beta of 0.57. The stock's 50 day moving average is $76.06 and its 200 day moving average is $76.36.

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.