RB Capital Management LLC Invests $1.54 Million in Zoom Communications, Inc. $ZM

Key Points

• RB Capital Management LLC invested approximately $1.54 million to acquire 19,711 shares of Zoom Communications, marking a significant new position in the company during the second quarter.
• Insider trading activities revealed that company directors sold a combined total of approximately 90,400 shares over the past three months, equating to over $6.8 million in transactions.
• Zoom Communications currently has a market capitalization of $25.41 billion and a consensus analyst rating of "Hold" with a price target around $90.30.

RB Capital Management LLC bought a new position 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 institutional investor bought 19,711 shares of the company's stock, valued at approximately $1,537,000.

Other large investors have also modified their holdings of the company. SouthState Corp purchased a new stake in shares of Zoom Communications during the first quarter worth $25,000. Wayfinding Financial LLC acquired a new position in shares of Zoom Communications during the 1st quarter valued at about $25,000. Raiffeisen Bank International AG acquired a new position in shares of Zoom Communications during the 4th quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB boosted 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 acquiring an additional 246 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Zoom Communications during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Communications Price Performance

Shares of NASDAQ:ZM opened at $83.98 on Friday. The firm has a market capitalization of $25.41 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 11.93 and a beta of 0.57. The firm's 50-day moving average is $76.60 and its two-hundred day moving average is $76.59. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80.

Analyst Ratings Changes

ZM has been the topic of several recent research reports. JMP Securities reissued a "market perform" rating on shares of Zoom Communications in a research report on Friday, August 22nd. Benchmark reissued a "buy" rating and set a $97.00 price target on shares of Zoom Communications in a research report on Tuesday, May 20th. Stifel Nicolaus lowered their price target on shares of Zoom Communications from $85.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, August 22nd. Bank of America upped their target price on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Zacks Research cut shares of Zoom Communications from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Zoom Communications has a consensus rating of "Hold" and a consensus price target of $90.30.

Insider Activity at Zoom Communications

In other Zoom Communications news, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $83.40, for a total transaction of $206,415.00. Following the sale, the director directly owned 155,119 shares in the company, valued at $12,936,924.60. This represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herbert Raymond Mcmaster sold 2,000 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $83.00, for a total transaction of $166,000.00. Following the sale, the director owned 7,901 shares in the company, valued at $655,783. This trade represents a 20.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,400 shares of company stock valued at $6,871,114. 11.51% of the stock is owned by company insiders.

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.

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