Zoom Communications, Inc. $ZM Stock Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its position in Zoom Communications, Inc. (NASDAQ:ZM) by 14.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,389 shares of the company’s stock after selling 5,665 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Zoom Communications were worth $3,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC grew its position in Zoom Communications by 43.6% during the fourth quarter. Hsbc Holdings PLC now owns 422,470 shares of the company’s stock valued at $36,460,000 after acquiring an additional 128,174 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Zoom Communications by 251.2% during the second quarter. Tidal Investments LLC now owns 123,450 shares of the company’s stock worth $10,655,000 after acquiring an additional 88,303 shares in the last quarter. Bull Harbor Capital LLC purchased a new position in shares of Zoom Communications during the first quarter worth approximately $939,000. First Heartland Consultants Inc. bought a new stake in shares of Zoom Communications in the 3rd quarter worth approximately $1,870,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Zoom Communications in the 1st quarter worth approximately $2,689,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. KeyCorp reiterated a “sector weight” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $104.00 price target on shares of Zoom Communications in a research note on Monday, August 24th. UBS Group upped their price target on shares of Zoom Communications from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Finally, Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a research report on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Zoom Communications has a consensus rating of “Moderate Buy” and a consensus target price of $113.91.

Zoom Communications Price Performance

ZM opened at $97.46 on Wednesday. The stock’s 50 day simple moving average is $96.88 and its 200 day simple moving average is $94.88. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 4.51 and a beta of 1.03. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share 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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The business’s 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. As a group, sell-side analysts anticipate that Zoom Communications, Inc. will post 4.27 EPS for the current year.

Insider Transactions at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,645 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $99.26, for a total transaction of $758,842.70. Following the completion of the sale, the insider owned 151,813 shares of the company’s stock, valued at $15,068,958.38. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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, CFO Michelle Chang sold 8,489 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $99.46, for a total transaction of $844,315.94. Following the completion of the sale, the chief financial officer directly owned 40,438 shares in the company, valued at approximately $4,021,963.48. This trade represents a 17.35% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 71,209 shares of company stock valued at $6,938,989. 8.83% of the stock is currently owned by insiders.

Zoom Communications 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.