Atreides Management LP Invests $105.76 Million in Zoom Communications, Inc. $ZM

Atreides Management LP purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,315,605 shares of the company's stock, valued at approximately $105,761,000. Zoom Communications comprises about 2.1% of Atreides Management LP's portfolio, making the stock its 14th biggest holding. Atreides Management LP owned about 0.45% of Zoom Communications as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Zoom Communications by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company's stock worth $2,327,002,000 after buying an additional 1,029,623 shares in the last quarter. AQR Capital Management LLC grew its stake in Zoom Communications by 43.9% in the 4th quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company's stock worth $1,052,328,000 after buying an additional 3,718,186 shares in the last quarter. State Street Corp raised its holdings in shares of Zoom Communications by 5.0% during the 4th quarter. State Street Corp now owns 7,582,924 shares of the company's stock valued at $654,331,000 after buying an additional 363,776 shares in the last quarter. Norges Bank bought a new stake in Zoom Communications in the fourth quarter worth $509,788,000. Finally, Geode Capital Management LLC lifted its position in Zoom Communications by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company's stock valued at $445,254,000 after purchasing an additional 152,862 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. HSBC lifted their price objective on Zoom Communications from $107.00 to $133.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Morgan Stanley raised their target price on Zoom Communications from $92.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Friday, May 22nd. Mizuho boosted their price objective on Zoom Communications from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. Cantor Fitzgerald increased their price objective on shares of Zoom Communications from $87.00 to $104.00 and gave the company a "neutral" rating in a report on Friday, May 22nd. Finally, Benchmark upped their price target on shares of Zoom Communications from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $109.33.

Zoom Communications Stock Up 0.3%

Shares of ZM opened at $91.48 on Wednesday. The company has a market capitalization of $26.82 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 4.89 and a beta of 1.01. Zoom Communications, Inc. has a 52 week low of $69.15 and a 52 week high of $114.74. The stock's 50-day moving average price is $93.03 and its 200-day moving average price is $89.08.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.13. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $1.43 EPS. The business's revenue was up 5.5% on a year-over-year basis. Zoom Communications has set its FY 2027 guidance at 5.960-6.000 EPS and its Q2 2027 guidance at 1.450-1.470 EPS. As a group, equities analysts anticipate that Zoom Communications, Inc. will post 4.21 EPS for the current fiscal year.

Insider Activity at Zoom Communications

In other Zoom Communications news, Director Santiago Subotovsky sold 5,274 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $109.78, for a total transaction of $578,979.72. Following the sale, the director directly owned 137,608 shares in the company, valued at $15,106,606.24. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric S. Yuan sold 12,100 shares of Zoom Communications stock in a transaction on Monday, May 4th. The shares were sold at an average price of $106.60, for a total value of $1,289,860.00. 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. Over the last three months, insiders have sold 48,517 shares of company stock worth $5,061,783. Insiders own 8.83% of the company's stock.

Zoom Communications Profile

Zoom Video Communications, Inc (commonly referred to as Zoom) is a provider of cloud-based communications and collaboration solutions. The company's platform supports video conferencing, voice calling, instant messaging, webinars and large-scale virtual events, and meeting room systems, marketed to businesses, educational institutions, government organizations and individual users. Zoom's product lineup includes Zoom Meetings, Zoom Phone, Zoom Rooms, Zoom Video Webinars and Zoom Chat, and the company offers integrations and extensions through a developer marketplace and third-party apps.

Founded in 2011 by Eric S.

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