Valeo Financial Advisors LLC Acquires New Holdings in Zoom Communications, Inc. $ZM

Key Points

• Valeo Financial Advisors LLC has purchased 117,416 shares of Zoom Communications, Inc., valued at approximately $9.16 million, indicating growing interest from institutional investors in the company's stock.
• Zoom Communications has seen notable increases in investment from several firms, with Robeco Institutional Asset Management increasing its stake by 63.5%, indicating potential investor confidence in the company's future.
• Despite recent insider selling, Zoom's stock opened at $80.96 on Monday, with a market cap of $24.49 billion and a consensus price target of $91.74 according to analysts.

Valeo Financial Advisors LLC purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 117,416 shares of the company's stock, valued at approximately $9,156,000.

Several other large investors have also recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its stake in shares of Zoom Communications by 63.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,137,093 shares of the company's stock valued at $166,651,000 after buying an additional 830,393 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Zoom Communications by 119.5% during the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock worth $103,670,000 after purchasing an additional 765,092 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Zoom Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock worth $1,829,249,000 after purchasing an additional 624,863 shares in the last quarter. Nuveen LLC purchased a new position in shares of Zoom Communications in the first quarter valued at approximately $37,646,000. Finally, Junto Capital Management LP grew its holdings in shares of Zoom Communications by 93.8% in the first quarter. Junto Capital Management LP now owns 868,507 shares of the company's stock valued at $64,070,000 after purchasing an additional 420,275 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Stock Down 1.6%

NASDAQ:ZM opened at $80.96 on Monday. The stock has a market cap of $24.49 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 11.18 and a beta of 0.78. The firm's fifty day simple moving average is $79.10 and its 200-day simple moving average is $77.56. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80.

Insider Activity

In other Zoom Communications news, insider Velchamy Sankarlingam sold 2,595 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $85.09, for a total value of $220,808.55. Following the sale, the insider directly owned 130,242 shares of the company's stock, valued at approximately $11,082,291.78. This trade represents a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total value of $2,519,749.89. The disclosure for this sale can be found here. Insiders have sold 87,925 shares of company stock valued at $6,680,119 in the last 90 days. Insiders own 10.78% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZM. Wall Street Zen raised Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Zoom Communications in a research note on Saturday, September 27th. Stifel Nicolaus boosted their price objective on Zoom Communications from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, September 18th. Dbs Bank raised shares of Zoom Communications to a "moderate buy" rating in a report on Tuesday, September 16th. Finally, Wedbush reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Communications in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $91.74.

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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