Engineers Gate Manager LP boosted its position in Zoom Communications, Inc. (NASDAQ:ZM – Free Report) by 153.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 57,286 shares of the company’s stock after purchasing an additional 34,646 shares during the period. Engineers Gate Manager LP’s holdings in Zoom Communications were worth $4,944,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Advocate Investing Services LLC acquired a new position in shares of Zoom Communications during the 4th quarter worth approximately $26,000. Strive Financial Group LLC bought a new position in shares of Zoom Communications in the fourth quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Zoom Communications by 133.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Rexford Capital Inc. lifted its stake in shares of Zoom Communications by 45.7% during the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after buying an additional 122 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Zoom Communications by 83.3% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $38,000 after buying an additional 200 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.
Insider Transactions at Zoom Communications
In related news, CFO Michelle Chang sold 8,489 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $90.80, for a total transaction of $770,801.20. Following the sale, the chief financial officer owned 35,452 shares in the company, valued at $3,219,041.60. The trade was a 19.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Yuan sold 12,100 shares of Zoom Communications stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $95.34, for a total value of $1,153,614.00. Following the sale, the chief executive officer directly owned 22,998 shares in the company, valued at $2,192,629.32. The trade was a 34.47% decrease in their ownership of the stock. 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 a total of 56,108 shares of company stock valued at $5,381,876 over the last quarter. 8.83% of the stock is currently owned by insiders.
Zoom Communications Stock Performance
Zoom Communications (NASDAQ:ZM – Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.07. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 EPS. 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. As a group, research analysts forecast that Zoom Communications, Inc. will post 4.26 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on ZM shares. Wells Fargo & Company upped their price target on shares of Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Piper Sandler upped their target price on Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Bank of America assumed coverage on Zoom Communications in a report on Wednesday, August 19th. They issued a “buy” rating and a $130.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $130.00 target price on shares of Zoom Communications in a report on Friday, August 21st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $104.00 price objective on shares of Zoom Communications in a research note on Monday, August 24th. Sixteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Zoom Communications presently has a consensus rating of “Moderate Buy” and an average target price of $112.55.
Check Out Our Latest Research Report on ZM
About Zoom Communications
Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.
Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.
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