Vident Advisory LLC Purchases 8,492 Shares of Zoom Communications, Inc. $ZM

Key Points

• Vident Advisory LLC significantly increased its stake in Zoom Communications by 190% during the first quarter, now holding 12,962 shares valued at approximately $956,000.
• Several other institutional investors have also boosted their investments in Zoom Communications, making up 66.54% of the company's total stock ownership.
• Zoom Communications shares have experienced a price movement with a 1-year low of $64.41 and a high of $92.80, while the company currently holds a market capitalization of $25.05 billion.

Vident Advisory LLC raised its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 190.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,962 shares of the company's stock after buying an additional 8,492 shares during the quarter. Vident Advisory LLC's holdings in Zoom Communications were worth $956,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in 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 in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Zoom Communications by 15.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,928 shares of the company's stock valued at $880,000 after buying an additional 1,601 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Zoom Communications by 31.9% in the first quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after buying an additional 1,076 shares in the last quarter. Spire Wealth Management lifted its stake in Zoom Communications by 990.6% in the first 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 lifted its stake in Zoom Communications by 201.6% in the first 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. Institutional investors own 66.54% of the company's stock.

Zoom Communications Trading Down 0.8%

NASDAQ ZM opened at $82.79 on Friday. The firm's fifty day moving average price is $75.82 and its two-hundred day moving average price is $76.47. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The firm has a market capitalization of $25.05 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 11.75 and a beta of 0.57.

Insider Activity

In other Zoom Communications news, Director Herbert Raymond Mcmaster sold 2,000 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $83.00, for a total transaction of $166,000.00. Following the sale, the director directly owned 7,901 shares of the company's stock, valued at approximately $655,783. This represents a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 33,691 shares of the company's stock in a transaction on Monday, July 14th. The stock was 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. In the last three months, insiders sold 90,542 shares of company stock valued at $6,853,099. 11.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ZM shares. Citigroup lifted their price target on shares of Zoom Communications from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Robert W. Baird cut their price objective on shares of Zoom Communications from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Wells Fargo & Company boosted their price objective on shares of Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. KeyCorp cut their price objective on shares of Zoom Communications from $73.00 to $69.00 and set an "underweight" rating on the stock in a research report on Friday, August 22nd. Finally, William Blair reissued an "outperform" rating on shares of Zoom Communications in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zoom Communications presently has an average rating of "Hold" and an average 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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