Coppell Advisory takes new $1.89M stake in Zoom
What's the deal? Coppell Advisory Solutions LLCDealroom has a profile for this one. Try Dealroom → bought a new stake in Zoom CommunicationsDealroom has a profile for this one. Try Dealroom → (NASDAQ:ZM) during the second quarter, according to its latest filing with the Securities and Exchange Commission. The firm acquired 21,922 shares worth roughly $1,892,000.
Who else is buying? Several other funds adjusted their Zoom positions recently. Thurston Springer Miller Herd & TitakDealroom has a profile for this one. Try Dealroom → boosted its holding 133.3% in the second quarter to 350 shares, while Rexford CapitalDealroom has a profile for this one. Try Dealroom → grew its stake 45.7% in the first quarter. Institutional investors and hedge funds own 66.54% of the stock.
What does Wall Street think? Analysts are split but lean positive. Sixteen rate the stock a buy and 12 rate it a hold, giving Zoom a "Moderate Buy" consensus and a target price of $112.55, per MarketBeat.
What are analysts saying? Recent targets range widely. Royal Bank of CanadaDealroom has a profile for this one. Try Dealroom → and NeedhamDealroom has a profile for this one. Try Dealroom → both set $130.00 objectives in late August, while JefferiesDealroom has a profile for this one. Try Dealroom → trimmed its target to $116.00 but kept a buy rating. Wells FargoDealroom has a profile for this one. Try Dealroom → raised its target to $105.00 in May with an "equal weight" rating.
What about insiders? Zoom insiders have been selling. Chief executive officer Eric Yuan sold 12,100 shares on August 5 at an average $100.17, a total of $1,212,057, cutting his direct holding 34.47%. Insider Velchamy Sankarlingam sold 7,644 shares in July for $703,095. Both trades were made under pre-arranged Rule 10b5-1 plans.
The signal: Small new positions and steady institutional ownership point to continued fund interest in the video-conferencing company, even as executives trim their own stakes.
Read more: tickerreport.com
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