Moran Wealth Management LLC Purchases 71,369 Shares of Zoom Communications, Inc. $ZM

Key Points

• Moran Wealth Management LLC increased its Zoom Communications stake by 197% in the first quarter, buying 71,369 additional shares to bring its total holdings to 107,601 shares worth about $8.65 million.
• Zoom reported better-than-expected quarterly results, with EPS of $1.55 versus the $1.42 estimate and revenue of $1.24 billion, up 5.5% year over year.
• Wall Street remains cautiously positive on the stock, with analysts giving Zoom a Moderate Buy rating overall and an average price target of $109.33, even as some insiders recently sold shares.

Moran Wealth Management LLC raised its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 197.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 107,601 shares of the company's stock after buying an additional 71,369 shares during the period. Moran Wealth Management LLC's holdings in Zoom Communications were worth $8,650,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Advocate Investing Services LLC bought a new position in shares of Zoom Communications in the fourth quarter valued at approximately $26,000. Strive Financial Group LLC bought a new stake in Zoom Communications during the fourth quarter worth $27,000. Toth Financial Advisory Corp bought a new stake in Zoom Communications during the fourth quarter worth $28,000. Rexford Capital Inc. boosted its position in Zoom Communications by 45.7% in the first quarter. Rexford Capital Inc. now owns 389 shares of the company's stock worth $31,000 after purchasing an additional 122 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in Zoom Communications by 94.8% in the fourth quarter. Sound Income Strategies LLC now owns 411 shares of the company's stock worth $33,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Communications Stock Performance

Zoom Communications stock opened at $87.14 on Friday. The firm has a 50 day simple moving average of $96.58 and a 200 day simple moving average of $88.81. Zoom Communications, Inc. has a 1-year low of $69.15 and a 1-year high of $114.74. The firm has a market capitalization of $25.55 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 4.81 and a beta of 1.01.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted $1.43 earnings per share. The business's quarterly 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. On average, equities research analysts forecast that Zoom Communications, Inc. will post 4.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ZM shares. Wall Street Zen downgraded Zoom Communications from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Citigroup boosted their price target on shares of Zoom Communications from $122.00 to $126.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Robert W. Baird increased their price target 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. Morgan Stanley increased their price target on shares of Zoom Communications from $92.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, May 22nd. Finally, Benchmark raised their price objective on shares of Zoom Communications from $115.00 to $121.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $109.33.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total transaction of $653,188.80. Following the sale, the insider directly owned 141,971 shares in the company, valued at $12,130,002.24. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Aparna Bawa sold 12,886 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $87.62, for a total transaction of $1,129,071.32. Following the completion of the sale, the chief operating officer directly owned 1,978 shares in the company, valued at approximately $173,312.36. The trade was a 86.69% 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. Over the last quarter, insiders sold 156,638 shares of company stock worth $13,900,194. Company 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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