Swedbank AB Has $7.39 Million Stock Holdings in Zoom Communications, Inc. $ZM

Key Points

• Swedbank AB increased its holdings in Zoom Communications, Inc. by 21.1% during the 2nd quarter, owning 94,820 shares worth approximately $7.39 million at the end of the reporting period.
• Insider trading activity shows that CEO Eric S. Yuan sold 33,691 shares for nearly $2.52 million in July, indicating significant insider selling in the last quarter.
• Equity analysts have set a moderate target price for Zoom Communications, with ratings ranging from "Strong Buy" to "Sell", with an average target price of $91.30.

Swedbank AB lifted its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 21.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,820 shares of the company's stock after purchasing an additional 16,553 shares during the period. Swedbank AB's holdings in Zoom Communications were worth $7,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wayfinding Financial LLC bought a new stake in Zoom Communications during the first quarter valued at about $25,000. SouthState Corp bought a new stake in Zoom Communications during the 1st quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after buying an additional 246 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in Zoom Communications in the 1st quarter worth approximately $31,000. Finally, Brooklyn Investment Group lifted its holdings in shares of Zoom Communications by 277.8% during the first quarter. Brooklyn Investment Group now owns 442 shares of the company's stock worth $33,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Transactions at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,661 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $77.50, for a total value of $593,727.50. Following the transaction, the insider directly owned 129,377 shares in the company, valued at $10,026,717.50. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $74.79, for a total transaction of $2,519,749.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,400 shares of company stock valued at $6,871,114. 10.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ZM has been the topic of several research analyst reports. Wedbush restated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Communications in a research note on Friday, August 22nd. Citigroup boosted 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. Piper Sandler restated a "neutral" rating and set a $85.00 price objective on shares of Zoom Communications in a report on Friday, August 22nd. Needham & Company LLC restated a "buy" rating and set a $100.00 price objective on shares of Zoom Communications in a report on Thursday. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $87.00 price objective on shares of Zoom Communications in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.30.

Zoom Communications Stock Down 0.7%

NASDAQ:ZM traded down $0.63 on Monday, reaching $83.53. The stock had a trading volume of 2,759,852 shares, compared to its average volume of 3,393,836. The company has a market capitalization of $25.27 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 11.73 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 stock has a fifty day moving average price of $77.53 and a 200-day moving average price of $76.99.

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.