IFM Investors Pty Ltd Acquires 3,145 Shares of Zoom Communications, Inc. $ZM

Key Points

• IFM Investors Pty Ltd increased its stake in Zoom Communications by 6.6%, acquiring a total of 50,914 shares worth approximately $3.97 million as of the end of the second quarter.
• Multiple large investors have modified their holdings in Zoom, with Principal Financial Group increasing its stake by 18.5%, bringing its total to 175,918 shares valued at nearly $13 million.
• Wall Street analysts have mixed ratings for Zoom Communications, with a consensus target price set at $91.30 and numerous analysts issuing ratings ranging from "Strong Buy" to "Underweight."

IFM Investors Pty Ltd grew its holdings in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,914 shares of the company's stock after acquiring an additional 3,145 shares during the quarter. IFM Investors Pty Ltd's holdings in Zoom Communications were worth $3,970,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $74.79, for a total transaction of $2,519,749.89. The sale was disclosed in a legal filing with the SEC, which is available at 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 completion of the sale, the director 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 disclosure for this sale can be found here. Insiders sold a total of 90,400 shares of company stock valued at $6,871,114 over the last ninety days. 10.78% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on ZM shares. Benchmark increased their price objective on Zoom Communications from $102.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday. Piper Sandler reiterated a "neutral" rating and set a $85.00 target price on shares of Zoom Communications in a research report on Friday, August 22nd. KeyCorp reduced their price target 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. Stifel Nicolaus lifted their target price on shares of Zoom Communications from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $100.00 target price on shares of Zoom Communications in a report on Thursday. Two equities 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.30.

Zoom Communications Stock Down 0.7%

Shares of Zoom Communications stock traded down $0.63 during trading on Monday, reaching $83.53. The company's stock had a trading volume of 2,759,852 shares, compared to its average volume of 3,393,836. The business's 50-day moving average price is $77.53 and its 200-day moving average price is $76.99. Zoom Communications, Inc. has a 52 week low of $64.41 and a 52 week high of $92.80. The firm has a market cap of $25.27 billion, a PE ratio of 22.04, a P/E/G ratio of 11.73 and a beta of 0.57.

Zoom Communications Company 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.