Torray Investment Partners LLC grew its position in shares of Zoom Communications, Inc. (NASDAQ:ZM – Free Report) by 46.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,252 shares of the company’s stock after buying an additional 11,456 shares during the period. Torray Investment Partners LLC’s holdings in Zoom Communications were worth $3,291,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Atreides Management LP bought a new stake in shares of Zoom Communications in the first quarter valued at about $105,761,000. Rubric Capital Management LP bought a new position in Zoom Communications during the first quarter worth about $80,471,000. Bank of America Corp DE increased its position in Zoom Communications by 50.5% during the first quarter. Bank of America Corp DE now owns 1,767,728 shares of the company’s stock worth $142,108,000 after acquiring an additional 592,899 shares during the period. International Assets Investment Management LLC raised its stake in Zoom Communications by 15,035.9% in the 3rd quarter. International Assets Investment Management LLC now owns 557,000 shares of the company’s stock worth $50,559,000 after purchasing an additional 553,320 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new stake in Zoom Communications in the 2nd quarter worth about $43,925,000. Institutional investors and hedge funds own 66.54% of the company’s stock.
Insider Activity
In other news, insider Velchamy Sankarlingam sold 7,645 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $99.26, for a total value of $758,842.70. Following the completion of the transaction, the insider directly owned 151,813 shares in the company, valued at approximately $15,068,958.38. The trade was a 4.79% decrease in their position. The sale 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, Director Herbert Mcmaster sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $101.25, for a total transaction of $151,875.00. Following the sale, the director directly owned 6,979 shares of the company’s stock, valued at approximately $706,623.75. This trade represents a 17.69% decrease in their position. 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. Over the last three months, insiders sold 68,845 shares of company stock valued at $6,711,415. Company insiders own 8.83% of the company’s stock.
Wall Street Analyst Weigh In
ZM has been the subject of a number of recent research reports. BTIG Research reissued a “buy” rating and issued a $125.00 price objective on shares of Zoom Communications in a report on Wednesday, October 21st. Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Oppenheimer upgraded shares of Zoom Communications from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Wednesday, October 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Zoom Communications in a research note on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.48.
Read Our Latest Analysis on ZM
Zoom Communications Stock Performance
ZM opened at $91.84 on Wednesday. Zoom Communications, Inc. has a 52-week low of $70.70 and a 52-week high of $114.74. The firm has a market cap of $26.80 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 4.11 and a beta of 1.02. The business’s fifty day moving average is $94.99 and its 200-day moving average is $91.99.
Zoom Communications (NASDAQ:ZM – Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%. Zoom Communications’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. On average, research analysts predict that Zoom Communications, Inc. will post 4.24 earnings per share for the current fiscal year.
Zoom Communications Company Profile
Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.
The company’s product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.
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