Engineers Gate Manager LP Has $4.94 Million Holdings in Zoom Communications, Inc. $ZM

Key Points

• Engineers Gate Manager LP increased its Zoom stake by 153% in the second quarter, bringing its holdings to 57,286 shares valued at approximately $4.94 million. Institutional investors collectively own 66.54% of Zoom’s stock.
• Analysts maintain a “Moderate Buy” consensus on Zoom, with 16 Buy ratings and 12 Holds and an average price target of $112.55, compared with the reported opening price of $95.57.
• Zoom exceeded quarterly expectations, reporting $1.55 in EPS and $1.28 billion in revenue, while revenue rose 4.9% year over year. Insiders have sold 56,108 shares worth about $5.38 million over the past 90 days, primarily under pre-arranged plans to cover tax obligations.

Engineers Gate Manager LP raised its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 153.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,286 shares of the company's stock after acquiring an additional 34,646 shares during the quarter. Engineers Gate Manager LP's holdings in Zoom Communications were worth $4,944,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ZM. NewEdge Advisors LLC increased its holdings 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 worth $591,000 after buying an additional 1,153 shares in the last quarter. Intech Investment Management LLC grew its position in Zoom Communications by 59.1% during the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company's stock worth $1,238,000 after acquiring an additional 6,235 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Zoom Communications by 82.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company's stock worth $65,000 after acquiring an additional 397 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Zoom Communications during the 2nd quarter valued at $217,000. Finally, Invesco Ltd. increased its holdings in Zoom Communications by 7.0% during the 2nd quarter. Invesco Ltd. now owns 730,207 shares of the company's stock valued at $56,942,000 after purchasing an additional 47,749 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 price objective on shares of Zoom Communications in a research note on Friday, August 21st. KeyCorp reaffirmed a "sector weight" rating on shares of Zoom Communications in a research note on Wednesday, August 26th. Piper Sandler increased their price target on shares of Zoom Communications from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Sanford C. Bernstein reissued a "market perform" rating and set a $108.00 price objective on shares of Zoom Communications in a report on Wednesday, August 26th. Finally, Robert W. Baird raised their price objective on shares of Zoom Communications from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Tuesday, May 19th. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Zoom Communications has a consensus rating of "Moderate Buy" and an average target price of $112.55.

Zoom Communications Price Performance

NASDAQ:ZM opened at $95.57 on Friday. The stock has a market capitalization of $27.89 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 4.42 and a beta of 1.04. Zoom Communications, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $114.74. The business's 50-day simple moving average is $96.84 and its 200-day simple moving average is $91.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.07. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company posted $1.53 earnings per share. The company's quarterly revenue was up 4.9% compared to the same quarter last year. 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. On average, research analysts expect that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.

Insider Buying and Selling

In other Zoom Communications news, CFO Michelle Chang sold 8,489 shares of the business's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $90.80, for a total transaction of $770,801.20. Following the transaction, the chief financial officer owned 35,452 shares of the company's stock, valued at $3,219,041.60. The trade was a 19.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, insider Velchamy Sankarlingam sold 2,590 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $95.81, for a total value of $248,147.90. Following the completion of the sale, the insider directly owned 149,265 shares of the company's stock, valued at approximately $14,301,079.65. The trade was a 1.71% decrease in their position. 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. Over the last ninety days, insiders have sold 56,108 shares of company stock worth $5,381,876. Insiders own 8.83% of the company's stock.

Zoom Communications Profile

Zoom Communications, Inc NASDAQ: ZM is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.

Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.