Zoom Communications, Inc. $ZM Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 86.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,637 shares of the company’s stock after purchasing an additional 10,025 shares during the quarter. NewEdge Advisors LLC’s holdings in Zoom Communications were worth $1,867,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc grew its stake in Zoom Communications by 23.2% during the 2nd quarter. IFP Advisors Inc now owns 2,069 shares of the company’s stock worth $179,000 after buying an additional 389 shares during the last quarter. Allworth Financial LP grew its position in shares of Zoom Communications by 4.2% during the second quarter. Allworth Financial LP now owns 15,310 shares of the company’s stock worth $1,321,000 after acquiring an additional 623 shares during the last quarter. West Family Investments Inc. purchased a new position in shares of Zoom Communications during the second quarter worth approximately $371,000. Waverly Advisors LLC increased its holdings in shares of Zoom Communications by 11.4% in the 2nd quarter. Waverly Advisors LLC now owns 7,194 shares of the company’s stock valued at $621,000 after acquiring an additional 737 shares during the period. Finally, Nykredit A S acquired a new position in shares of Zoom Communications in the 2nd quarter valued at $6,114,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Communications Stock Performance

Shares of ZM opened at $88.77 on Friday. The stock has a market capitalization of $25.90 billion, a P/E ratio of 8.22, a P/E/G ratio of 4.28 and a beta of 1.04. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The company’s fifty day moving average is $97.31 and its two-hundred day moving average is $92.17.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.48 by $0.07. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $1.53 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. 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. Sell-side analysts predict that Zoom Communications, Inc. will post 4.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ZM. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a research note on Wednesday, August 26th. HSBC lifted their price objective on shares of Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Zoom Communications in a report on Friday, August 21st. Mizuho increased their target price on shares of Zoom Communications from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $108.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Zoom Communications currently has an average rating of “Moderate Buy” and a consensus price target of $113.62.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 2,590 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $95.81, for a total value of $248,147.90. Following the completion of the transaction, the insider owned 149,265 shares in the company, valued at $14,301,079.65. This trade represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 Santiago Subotovsky sold 2,637 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $96.63, for a total transaction of $254,813.31. Following the completion of the sale, the director owned 124,423 shares of the company’s stock, valued at $12,022,994.49. This trade represents a 2.08% 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. Insiders sold a total of 56,108 shares of company stock worth $5,381,876 in the last ninety days. 8.83% of the stock is owned by insiders.

Zoom Communications Company Profile

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.