Lombard Odier Asset Management Switzerland SA acquired a new position in Zoom Communications, Inc. (NASDAQ:ZM – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,994 shares of the company’s stock, valued at approximately $562,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Advocate Investing Services LLC purchased a new stake in shares of Zoom Communications during the 4th quarter worth $26,000. Strive Financial Group LLC purchased a new position in shares of Zoom Communications in the 4th quarter valued at about $27,000. Toth Financial Advisory Corp purchased a new position in shares of Zoom Communications in the 4th quarter valued at about $28,000. Rexford Capital Inc. lifted its stake in shares of Zoom Communications by 45.7% in the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after purchasing an additional 122 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of Zoom Communications by 94.8% in the fourth quarter. Sound Income Strategies LLC now owns 411 shares of the company’s stock valued at $33,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.
Zoom Communications Stock Up 0.3%
Zoom Communications stock opened at $91.48 on Wednesday. The firm has a market capitalization of $26.82 billion, a PE ratio of 13.43, a P/E/G ratio of 4.89 and a beta of 1.01. Zoom Communications, Inc. has a 52 week low of $69.15 and a 52 week high of $114.74. The firm’s 50-day simple moving average is $93.03 and its 200 day simple moving average is $89.08.
Insider Activity
In related news, CFO Michelle Chang sold 8,489 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $90.80, for a total value of $770,801.20. Following the sale, the chief financial officer owned 35,452 shares of the company’s stock, valued at approximately $3,219,041.60. This represents a 19.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric S. Yuan sold 12,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total value of $1,350,481.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 48,517 shares of company stock worth $5,061,783 over the last ninety days. 8.83% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of analysts recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Zoom Communications in a report on Thursday, July 23rd. BTIG Research increased their target price on shares of Zoom Communications from $100.00 to $125.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Piper Sandler lifted their price target on shares of Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Cantor Fitzgerald boosted their price target on Zoom Communications from $87.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Finally, Morgan Stanley upped their price target on Zoom Communications from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.33.
Zoom Communications Company Profile
Zoom Video Communications, Inc (commonly referred to as Zoom) is a provider of cloud-based communications and collaboration solutions. The company’s platform supports video conferencing, voice calling, instant messaging, webinars and large-scale virtual events, and meeting room systems, marketed to businesses, educational institutions, government organizations and individual users. Zoom’s product lineup includes Zoom Meetings, Zoom Phone, Zoom Rooms, Zoom Video Webinars and Zoom Chat, and the company offers integrations and extensions through a developer marketplace and third-party apps.
Founded in 2011 by Eric S.
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