20,597 Shares of Zoom Communications, Inc. $ZM Bought by First Heartland Consultants Inc.

Key Points

• First Heartland Consultants bought 20,597 Zoom Communications shares in the third quarter, valued at approximately $1.87 million. Hedge funds and other institutional investors collectively own 66.54% of the company.
• Zoom insiders sold 59,719 shares worth about $5.75 million over the past 90 days, though some transactions were conducted under pre-arranged plans or to cover tax obligations.
• Zoom exceeded quarterly earnings and revenue expectations, reporting $1.55 in EPS and $1.28 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $113.62.

First Heartland Consultants Inc. purchased a new stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,597 shares of the company's stock, valued at approximately $1,870,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. grew 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. raised its position in Zoom Communications by 45.7% in the first quarter. Rexford Capital Inc. now owns 389 shares of the company's stock valued at $31,000 after purchasing an additional 122 shares during the period. Elevation Wealth Partners LLC grew its position in Zoom Communications by 133.8% in the third quarter. Elevation Wealth Partners LLC now owns 477 shares of the company's stock valued at $43,000 after acquiring an additional 273 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in Zoom Communications by 400.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 500 shares of the company's stock valued at $43,000 after purchasing an additional 400 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of Zoom Communications by 100.4% in the first quarter. V Square Quantitative Management LLC now owns 505 shares of the company's stock worth $41,000 after acquiring an additional 253 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoom Communications news, Director Santiago Subotovsky sold 2,637 shares of the business's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $93.74, for a total transaction of $247,192.38. Following the completion of the sale, the director directly owned 121,786 shares of the company's stock, valued at approximately $11,416,219.64. The trade was a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 2,590 shares of Zoom Communications stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $95.81, for a total transaction of $248,147.90. Following the transaction, the insider directly owned 149,265 shares in the company, valued at $14,301,079.65. The trade was a 1.71% 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. Insiders have sold a total of 59,719 shares of company stock valued at $5,754,795 in the last 90 days. 8.83% of the stock is currently owned by insiders.

Zoom Communications Stock Performance

ZM opened at $97.74 on Friday. The firm has a market cap of $28.52 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 4.37 and a beta of 1.03. Zoom Communications, Inc. has a twelve month low of $70.70 and a twelve month high of $114.74. The business has a 50 day moving average price of $97.72 and a 200 day moving average price of $93.87.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.07. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%. The company's revenue was up 4.9% on a year-over-year basis. During the same quarter last 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, analysts anticipate that Zoom Communications, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ZM. Cantor Fitzgerald reissued a "neutral" rating and issued a $104.00 price objective on shares of Zoom Communications in a report on Monday, August 24th. Bank of America initiated coverage on Zoom Communications in a research report on Wednesday, August 19th. They issued a "buy" rating and a $130.00 target price on the stock. Citizens Jmp restated a "market perform" rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Morgan Stanley increased their price objective on shares of Zoom Communications from $105.00 to $107.00 and gave the company an "equal weight" rating in a report on Wednesday, August 26th. Finally, Weiss Ratings raised Zoom Communications from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $113.62.

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.

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