Zoom Communications, Inc. $ZM Shares Acquired by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Zoom Communications, Inc. by 20.4% during the second quarter, now holding 53,168 shares worth approximately $4.18 million.
• Several institutional investors, including Vanguard Group and T. Rowe Price, have also raised their positions in Zoom, contributing to institutional ownership of 66.54% of the stock.
• Analyst ratings on Zoom Communications show a mixed sentiment with a consensus average rating of "Moderate Buy" and a price target of $91.30, reflecting varying outlooks on the stock's performance.

Wealth Enhancement Advisory Services LLC boosted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 20.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,168 shares of the company's stock after purchasing an additional 9,016 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Zoom Communications were worth $4,178,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Zoom Communications by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock valued at $1,829,249,000 after acquiring an additional 624,863 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Zoom Communications by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after acquiring an additional 36,210 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Zoom Communications by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company's stock valued at $123,912,000 after acquiring an additional 16,819 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Zoom Communications by 119.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock valued at $103,670,000 after acquiring an additional 765,092 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Zoom Communications by 13.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,399,652 shares of the company's stock valued at $103,252,000 after acquiring an additional 161,751 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ZM. JMP Securities reiterated a "market perform" rating on shares of Zoom Communications in a research note on Thursday, September 18th. Rosenblatt Securities restated a "buy" rating and issued a $110.00 price target on shares of Zoom Communications in a research report on Thursday, September 18th. Mizuho raised their price target on shares of Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Stifel Nicolaus raised their price target on shares of Zoom Communications from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, September 18th. Finally, Wall Street Zen downgraded shares of Zoom Communications from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zoom Communications has an average rating of "Moderate Buy" and a consensus price target of $91.30.

Zoom Communications Stock Up 1.2%

ZM stock opened at $83.99 on Friday. Zoom Communications, Inc. has a fifty-two week low of $64.41 and a fifty-two week high of $92.80. The firm's 50-day simple moving average is $78.22 and its 200 day simple moving average is $77.19. The stock has a market cap of $25.41 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 11.46 and a beta of 0.57.

Insider Activity

In other Zoom Communications news, Director Jonathan Chadwick sold 25,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the transaction, the director owned 5,875 shares of the company's stock, valued at approximately $439,802.50. This trade represents a 80.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 7,661 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $77.50, for a total transaction of $593,727.50. Following the transaction, the insider directly owned 129,377 shares in the company, valued at approximately $10,026,717.50. The trade was a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,400 shares of company stock worth $6,871,114 in the last 90 days. 11.51% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.