Traub Capital Management LLC Buys New Shares in Zoom Communications, Inc. $ZM

Traub Capital Management LLC acquired a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,170 shares of the company’s stock, valued at approximately $169,000.

A number of other large investors have also modified their holdings of ZM. Wedmont Private Capital boosted its stake in Zoom Communications by 4.1% during the second quarter. Wedmont Private Capital now owns 3,499 shares of the company’s stock worth $271,000 after buying an additional 137 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Zoom Communications by 6.7% in the first quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company’s stock valued at $172,000 after acquiring an additional 143 shares during the period. Penserra Capital Management LLC raised its position in Zoom Communications by 12.6% in the second quarter. Penserra Capital Management LLC now owns 1,446 shares of the company’s stock worth $111,000 after purchasing an additional 162 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Zoom Communications by 44.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 556 shares of the company’s stock worth $43,000 after purchasing an additional 171 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Zoom Communications by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 29,353 shares of the company’s stock worth $2,165,000 after purchasing an additional 206 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Communications

In related news, COO Aparna Bawa sold 10,528 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $79.77, for a total value of $839,818.56. Following the completion of the sale, the chief operating officer directly owned 1,978 shares in the company, valued at approximately $157,785.06. This trade represents a 84.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Communications stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $80.78, for a total value of $199,930.50. Following the transaction, the director owned 152,644 shares of the company’s stock, valued at $12,330,582.32. The trade was a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 394,848 shares of company stock worth $32,754,712 over the last ninety days. Company insiders own 11.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ZM. UBS Group started coverage on Zoom Communications in a research report on Monday, October 20th. They set a “neutral” rating and a $85.00 target price for the company. Morgan Stanley began coverage on Zoom Communications in a report on Tuesday, October 21st. They set an “equal weight” rating and a $85.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Zoom Communications in a report on Friday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Zoom Communications in a research report on Thursday, September 18th. Finally, Benchmark boosted their price target on shares of Zoom Communications from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zoom Communications presently has a consensus rating of “Hold” and an average price target of $92.35.

Zoom Communications Stock Down 0.7%

ZM stock opened at $80.71 on Thursday. Zoom Communications, Inc. has a twelve month low of $64.41 and a twelve month high of $92.80. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 11.09 and a beta of 0.79. The business has a 50 day moving average price of $82.94 and a two-hundred day moving average price of $79.66.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.39). The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Zoom Communications had a return on equity of 11.91% and a net margin of 24.99%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. On average, equities research analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

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.