Mirae Asset Global Investments Co. Ltd. Purchases 60,515 Shares of Zoom Communications, Inc. $ZM

Key Points

• Mirae Asset Global Investments initiated a Zoom stake, buying 60,515 shares worth approximately $5.49 million in the third quarter. Institutional investors collectively own 66.54% of the company.
• Zoom reported quarterly earnings of $1.55 per share and revenue of $1.28 billion, beating analyst estimates; revenue rose 4.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $114.48. Company insiders sold 80,945 shares worth about $7.82 million over the last quarter.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 60,515 shares of the company's stock, valued at approximately $5,493,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MGO One Seven LLC lifted its stake in shares of Zoom Communications by 7.3% in the third quarter. MGO One Seven LLC now owns 2,820 shares of the company's stock valued at $256,000 after buying an additional 193 shares in the last quarter. Americana Partners LLC grew its holdings in shares of Zoom Communications by 5.9% during the third quarter. Americana Partners LLC now owns 7,735 shares of the company's stock valued at $702,000 after buying an additional 434 shares during the last quarter. State of Wyoming increased its position in shares of Zoom Communications by 805.4% during the third quarter. State of Wyoming now owns 6,492 shares of the company's stock worth $589,000 after acquiring an additional 5,775 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Zoom Communications by 15,035.9% during the third quarter. International Assets Investment Management LLC now owns 557,000 shares of the company's stock worth $50,559,000 after acquiring an additional 553,320 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in Zoom Communications by 14.4% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 226,074 shares of the company's stock valued at $20,521,000 after acquiring an additional 28,500 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Communications Price Performance

Shares of Zoom Communications stock opened at $88.82 on Friday. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The firm has a market cap of $25.92 billion, a PE ratio of 25.30, a P/E/G ratio of 4.10 and a beta of 1.02. The stock has a fifty day moving average price of $94.71 and a 200-day moving average price of $92.08.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.07. The company 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% compared to the same quarter last year. During the same period in the previous year, the business 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, equities analysts anticipate that Zoom Communications, Inc. will post 4.24 EPS for the current fiscal year.

Insider Transactions at Zoom Communications

In other news, Director Herbert Mcmaster sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $94.71, for a total transaction of $284,130.00. Following the completion of the sale, the director owned 8,479 shares in the company, valued at $803,046.09. This trade represents a 26.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 10,156 shares of Zoom Communications stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $101.93, for a total transaction of $1,035,201.08. Following the completion of the sale, the chief financial officer directly owned 30,282 shares in the company, valued at $3,086,644.26. This trade represents a 25.11% 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. Over the last quarter, insiders sold 80,945 shares of company stock valued at $7,818,565. Corporate insiders own 8.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ZM shares. Citizens Jmp reiterated a "market perform" rating on shares of Zoom Communications in a research note on Wednesday, August 26th. Needham & Company LLC reissued a "buy" rating and issued a $130.00 price target on shares of Zoom Communications in a research report on Thursday, October 22nd. Sanford C. Bernstein restated a "market perform" rating and set a $108.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th. Cantor Fitzgerald restated a "neutral" rating and set a $104.00 price target on shares of Zoom Communications in a report on Wednesday, October 21st. Finally, Jefferies Financial Group reduced their price objective on shares of Zoom Communications from $118.00 to $116.00 and set a "buy" rating for the company in a research report on Wednesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Zoom Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.48.

About Zoom Communications

Zoom Communications, Inc NASDAQ: ZM is a communications technology company that provides cloud-based collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.

The company's product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.

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