Assenagon Asset Management S.A. Purchases 57,314 Shares of Zoom Communications, Inc. $ZM

Key Points

• Assenagon Asset Management increased its Zoom Communications position by 9.4% in the third quarter, purchasing 57,314 shares and bringing its total holdings to 665,905 shares worth approximately $60.4 million. Institutional investors own 66.54% of Zoom’s stock.
• Zoom reported quarterly revenue of $1.28 billion, up 4.9% year over year, and adjusted earnings of $1.55 per share, beating analyst expectations of $1.48. The company also issued fiscal 2027 EPS guidance of $6.08 to $6.12.
• Shares opened at $94.19 after declining 4.4%; analysts maintain a “Moderate Buy” consensus rating with an average price target of $113.62. Meanwhile, insiders sold 71,209 shares worth about $6.94 million over the past 90 days, largely through pre-arranged trading plans.

Assenagon Asset Management S.A. boosted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 665,905 shares of the company's stock after purchasing an additional 57,314 shares during the quarter. Assenagon Asset Management S.A. owned about 0.23% of Zoom Communications worth $60,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brindle & Bay Financial Advisors LLC bought a new position in shares of Zoom Communications in the 3rd quarter valued at about $215,000. Curated Wealth Partners LLC acquired a new stake in shares of Zoom Communications during the 3rd quarter worth approximately $351,000. Fortitude Family Office LLC grew its position in shares of 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 buying an additional 114 shares during the period. Signal Advisors Wealth LLC bought a new stake in shares of Zoom Communications during the third quarter worth approximately $245,000. Finally, Courier Capital LLC raised its stake in shares of Zoom Communications by 94.7% during the third quarter. Courier Capital LLC now owns 19,342 shares of the company's stock worth $1,756,000 after buying an additional 9,410 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Zoom Communications Trading Down 4.4%

NASDAQ:ZM opened at $94.19 on Friday. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The stock has a 50-day moving average price of $97.25 and a two-hundred day moving average price of $94.53. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 4.35 and a beta of 1.03.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released 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 business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the business posted $1.53 EPS. Zoom Communications's revenue for the quarter 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. Sell-side analysts forecast that Zoom Communications, Inc. will post 4.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Zoom Communications from $118.00 to $116.00 and set a "buy" rating on the stock in a research note on Wednesday, August 26th. Weiss Ratings upgraded shares of Zoom Communications from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. BTIG Research reissued a "buy" rating and issued a $125.00 price target on shares of Zoom Communications in a research note on Monday, August 24th. Cantor Fitzgerald restated a "neutral" rating and issued a $104.00 price target on shares of Zoom Communications in a research report on Monday, August 24th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $130.00 price target on shares of Zoom Communications in a research report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Zoom Communications has an average rating of "Moderate Buy" and a consensus price target of $113.62.

Insiders Place Their Bets

In related news, CEO Eric Yuan sold 12,100 shares of the business's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $93.74, for a total value of $1,134,254.00. Following the sale, the chief executive officer directly owned 22,998 shares of the company's stock, valued at approximately $2,155,832.52. The trade was a 34.47% 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. Also, insider Velchamy Sankarlingam sold 7,645 shares of the company's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $99.26, for a total transaction of $758,842.70. Following the completion of the transaction, the insider directly owned 151,813 shares of the company's stock, valued at approximately $15,068,958.38. The trade was a 4.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 71,209 shares of company stock worth $6,938,989 in the last ninety days. 8.83% of the stock is owned by insiders.

Zoom Communications Company Profile

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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