50,100 Shares in Zoom Communications, Inc. $ZM Acquired by Highland Capital Management LLC

Highland Capital Management LLC acquired a new position in Zoom Communications, Inc. (NASDAQ:ZM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 50,100 shares of the company’s stock, valued at approximately $3,907,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 624,863 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 buying an additional 36,210 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Zoom Communications by 63.5% during the 2nd 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 during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 buying an additional 16,819 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of 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 buying an additional 765,092 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZM. Mizuho lifted their target price on shares of Zoom Communications from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. Wall Street Zen raised shares of Zoom Communications from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. Citigroup lifted their target price 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Zoom Communications in a research note on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.74.

Insider Activity

In other news, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total value of $1,871,500.00. Following the sale, the director directly owned 5,875 shares of the company’s stock, valued at approximately $439,802.50. This trade represents a 80.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $83.40, for a total value of $206,415.00. Following the completion of the sale, the director directly owned 155,119 shares in the company, valued at approximately $12,936,924.60. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,925 shares of company stock worth $6,680,119. Insiders own 11.51% of the company’s stock.

Zoom Communications Trading Down 1.6%

ZM stock opened at $80.96 on Friday. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $92.80. The company has a fifty day simple moving average of $79.10 and a 200 day simple moving average of $77.55. The firm has a market cap of $24.49 billion, a PE ratio of 21.36, a PEG ratio of 11.18 and a beta of 0.78.

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.