AXQ Capital LP purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,631 shares of the company's stock, valued at approximately $1,781,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of Zoom Communications by 16.8% during the first quarter. NewEdge Advisors LLC now owns 8,009 shares of the company's stock valued at $591,000 after acquiring an additional 1,153 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Zoom Communications by 59.1% in the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company's stock worth $1,238,000 after buying an additional 6,235 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Zoom Communications by 82.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company's stock worth $65,000 after buying an additional 397 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Zoom Communications in the 2nd quarter worth approximately $217,000. Finally, Invesco Ltd. increased its stake in shares of Zoom Communications by 7.0% during the second quarter. Invesco Ltd. now owns 730,207 shares of the company's stock valued at $56,942,000 after buying an additional 47,749 shares during the period. 66.54% of the stock is owned by institutional investors.
Zoom Communications Price Performance
ZM stock opened at $101.33 on Friday. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The stock's fifty day moving average price is $95.88 and its 200-day moving average price is $91.58. The company has a market cap of $29.71 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 4.54 and a beta of 1.04.
Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.27 billion. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%.The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.53 earnings per share. 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 expect that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.
Insider Buying and Selling at Zoom Communications
In other news, CEO Eric Yuan sold 12,100 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $95.34, for a total value of $1,153,614.00. Following the completion of the sale, the chief executive officer directly owned 22,998 shares in the company, valued at $2,192,629.32. This represents a 34.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the firm's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $90.80, for a total value of $770,801.20. Following the completion of the transaction, the chief financial officer directly owned 35,452 shares in the company, valued at approximately $3,219,041.60. This represents a 19.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 50,881 shares of company stock valued at $4,878,914 over the last three months. Insiders own 8.83% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently commented on ZM. Bank of America started coverage on Zoom Communications in a report on Wednesday, August 19th. They set a "buy" rating and a $130.00 target price for the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $130.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th. Robert W. Baird boosted their price objective on shares of Zoom Communications from $95.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. Mizuho upped their price objective on shares of Zoom Communications from $100.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, May 22nd. Finally, UBS Group raised their target price on shares of Zoom Communications from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.55.
Check Out Our Latest Research Report on ZM
About Zoom Communications
(
Free Report)
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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