TB Alternative Assets Ltd. Sells 60,112 Shares of Zoom Communications, Inc. $ZM

TB Alternative Assets Ltd. reduced its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 50.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 60,112 shares of the company’s stock after selling 60,112 shares during the quarter. Zoom Communications comprises about 1.1% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 18th biggest position. TB Alternative Assets Ltd.’s holdings in Zoom Communications were worth $5,456,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ZM. Assenagon Asset Management S.A. lifted its stake in shares of Zoom Communications by 9.4% in the third quarter. Assenagon Asset Management S.A. now owns 665,905 shares of the company’s stock valued at $60,444,000 after buying an additional 57,314 shares during the period. Brindle & Bay Financial Advisors LLC acquired a new position in Zoom Communications during the third quarter worth $215,000. Curated Wealth Partners LLC acquired a new position in Zoom Communications in the third quarter valued at about $351,000. Fortitude Family Office LLC grew its position in Zoom Communications by 27.2% during the 3rd quarter. Fortitude Family Office LLC now owns 533 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Finally, Signal Advisors Wealth LLC bought a new stake in shares of Zoom Communications during the third quarter valued at approximately $245,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Communications

In related news, CFO Michelle Chang sold 8,489 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $99.46, for a total value of $844,315.94. Following the sale, the chief financial officer directly owned 40,438 shares of the company’s stock, valued at approximately $4,021,963.48. The trade was a 17.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 Raymond Mcmaster sold 3,000 shares of the company’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $94.71, for a total transaction of $284,130.00. Following the completion of the transaction, the director directly owned 8,479 shares of the company’s stock, valued at approximately $803,046.09. The trade was a 26.13% 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 71,209 shares of company stock valued at $6,938,989 over the last three months. Insiders own 8.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Zoom Communications in a report on Friday, August 21st. KeyCorp reaffirmed a “sector weight” rating on shares of Zoom Communications in a report on Wednesday, August 26th. Morgan Stanley increased their price target on Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. Jefferies Financial Group reduced their price target on Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. Finally, BTIG Research restated a “buy” rating and set a $125.00 target price on shares of Zoom Communications in a report on Monday, August 24th. Fourteen research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

Zoom Communications Stock Performance

Shares of ZM opened at $98.51 on Friday. The stock has a 50 day simple moving average of $97.45 and a 200 day simple moving average of $94.53. 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 $28.74 billion, a PE ratio of 26.02, a P/E/G ratio of 4.36 and a beta of 1.03.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company posted $1.53 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. 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. Equities research analysts predict that Zoom Communications, Inc. will post 4.27 EPS for the current fiscal year.

About Zoom Communications

Zoom Communications, Inc (NASDAQ:ZM), formerly known as Zoom Video Communications, is a cloud-based communications and collaboration technology company. Its platform enables organizations and individuals to connect through video meetings, voice communications, messaging, webinars and other digital collaboration tools.

The company’s Zoom Workplace platform includes products such as Zoom Meetings, Zoom Phone, Team Chat, Whiteboard and Zoom Rooms. Zoom also provides Zoom Contact Center, Zoom Events and other tools designed to support customer engagement, employee collaboration and hybrid work.