International Assets Investment Management LLC raised its position in shares of Zoom Communications, Inc. (NASDAQ:ZM – Free Report) by 15,035.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 557,000 shares of the company’s stock after purchasing an additional 553,320 shares during the quarter. International Assets Investment Management LLC’s holdings in Zoom Communications were worth $50,559,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of Zoom Communications by 10.8% in the first quarter. Pacer Advisors Inc. now owns 2,595,840 shares of the company’s stock worth $208,680,000 after buying an additional 253,181 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Zoom Communications by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,352,126 shares of the company’s stock worth $189,051,000 after acquiring an additional 94,043 shares during the last quarter. Bank of America Corp DE raised its holdings in Zoom Communications by 50.5% in the 1st 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 last quarter. Bank of New York Mellon Corp raised its holdings in Zoom Communications by 44.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,411,745 shares of the company’s stock worth $113,490,000 after acquiring an additional 434,981 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Zoom Communications by 2.8% in the 1st quarter. First Trust Advisors LP now owns 1,362,501 shares of the company’s stock valued at $109,531,000 after acquiring an additional 36,657 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have commented on the company. Jefferies Financial Group cut their target price on Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday, August 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Zoom Communications in a report on Wednesday, October 21st. UBS Group decreased their price target on Zoom Communications from $115.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. KeyCorp reaffirmed a “sector weight” rating on shares of Zoom Communications in a report on Wednesday, August 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Zoom Communications in a research report on Thursday, October 22nd. Sixteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.48.
Read Our Latest Analysis on ZM
Zoom Communications Stock Down 2.2%
Shares of ZM stock opened at $95.50 on Friday. The company has a 50 day moving average price of $95.56 and a 200-day moving average price of $91.90. Zoom Communications, Inc. has a 52 week low of $70.70 and a 52 week high of $114.74. The firm has a market capitalization of $27.86 billion, a PE ratio of 8.84, a P/E/G ratio of 4.36 and a beta of 1.03.
Zoom Communications (NASDAQ:ZM – Get Free Report) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior 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. Analysts anticipate that Zoom Communications, Inc. will post 4.24 earnings per share for the current year.
Insider Buying and Selling at Zoom Communications
In other news, CFO Michelle Chang sold 10,156 shares of the firm’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $101.93, for a total value of $1,035,201.08. Following the transaction, the chief financial officer directly owned 30,282 shares in the company, valued at $3,086,644.26. This trade represents a 25.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Yuan sold 12,100 shares of Zoom Communications stock in a transaction on Monday, October 5th. The stock was sold at an average price of $93.74, for a total value of $1,134,254.00. Following the completion of the sale, the chief executive officer directly owned 22,998 shares of the company’s stock, valued at $2,155,832.52. The trade was a 34.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 88,856 shares of company stock worth $8,725,094. 8.83% of the stock is owned by corporate insiders.
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.
See Also
- Five stocks we like better than Zoom Communications
- Amazon’s Record Margins Couldn’t Stop the Sell-Off—Here’s Why
- DoorDash’s $17 Billion Bet on Instacart Faces a Long Regulatory Road Ahead
- FTC Puts A Wrinkle In the Cintas and UniFirst Merger
- Breaching the Valuation: The Real Reason Fortinet Dropped
Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM – Free Report).
Receive News & Ratings for Zoom Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Communications and related companies with MarketBeat.com's FREE daily email newsletter.
