Strs Ohio Buys Shares of 45,776 Zoom Communications, Inc. $ZM

Key Points

• Strs Ohio acquired a new stake of 45,776 shares in Zoom Communications, Inc., valued at approximately $3,377,000 during the first quarter, as disclosed in their recent 13F filing with the SEC.
• Several hedge funds, including Principal Financial Group and Cambridge Investment Research Advisors, have also increased their stakes in Zoom Communications, indicating strong institutional interest in the company.
• Over the past quarter, insiders sold a total of 90,400 shares of Zoom stock, valued at approximately $6,871,114, with 11.51% of the stock currently owned by corporate insiders.

Strs Ohio bought a new stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,776 shares of the company's stock, valued at approximately $3,377,000.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Zoom Communications by 18.5% in the first quarter. Principal Financial Group Inc. now owns 175,918 shares of the company's stock valued at $12,977,000 after buying an additional 27,430 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Zoom Communications by 15.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock worth $880,000 after purchasing an additional 1,601 shares during the period. Yousif Capital Management LLC boosted its stake in Zoom Communications by 31.9% in the 1st quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock worth $328,000 after purchasing an additional 1,076 shares during the period. Spire Wealth Management grew its holdings in Zoom Communications by 990.6% during the 1st quarter. Spire Wealth Management now owns 1,396 shares of the company's stock valued at $103,000 after buying an additional 1,268 shares in the last quarter. Finally, Circle Wealth Management LLC grew its holdings in Zoom Communications by 201.6% during the 1st quarter. Circle Wealth Management LLC now owns 20,391 shares of the company's stock valued at $1,504,000 after buying an additional 13,629 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoom Communications

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

Zoom Communications Stock Performance

NASDAQ ZM opened at $84.63 on Tuesday. The business's fifty day moving average is $76.75 and its 200 day moving average is $76.69. The company has a market capitalization of $25.60 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 11.82 and a beta of 0.57. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZM. Bank of America lifted their target price on Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted their target price on Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 target price on shares of Zoom Communications in a report on Friday, August 22nd. Zacks Research lowered Zoom Communications from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, KeyCorp decreased their target price on Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a research note on Friday, August 22nd. One equities research 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 issued a Sell rating to the company. According to MarketBeat, Zoom Communications currently has an average rating of "Hold" and a consensus target price of $90.30.

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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