Zoom Communications, Inc. $ZM Shares Bought by Tidal Investments LLC

Key Points

• Tidal Investments increased its Zoom stake by 251.2% in the second quarter, adding 88,303 shares to own 123,450 shares worth approximately $10.7 million. Other institutional investors also bought or expanded positions, and institutions now own 66.54% of Zoom’s stock.
• Zoom reported quarterly earnings of $1.55 per share, beating estimates by $0.07, while revenue rose 4.9% year over year to $1.28 billion. Shares opened at $95.57, within a 52-week range of $70.70 to $114.74.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $112.55. Recent target prices range as high as $126, although insiders have sold approximately $5.4 million of stock over the past three months.

Tidal Investments LLC boosted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 251.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,450 shares of the company's stock after buying an additional 88,303 shares during the quarter. Tidal Investments LLC's holdings in Zoom Communications were worth $10,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlueCrest Capital Management Ltd purchased a new stake in shares of Zoom Communications in the 2nd quarter valued at approximately $43,925,000. WINTON GROUP Ltd purchased a new position in shares of Zoom Communications during the 2nd quarter worth approximately $6,667,000. Engineers Gate Manager LP boosted its position in shares of Zoom Communications by 153.0% during the 2nd quarter. Engineers Gate Manager LP now owns 57,286 shares of the company's stock worth $4,944,000 after purchasing an additional 34,646 shares during the period. NewEdge Advisors LLC increased its holdings in Zoom Communications by 86.3% in the 2nd quarter. NewEdge Advisors LLC now owns 21,637 shares of the company's stock valued at $1,867,000 after purchasing an additional 10,025 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Zoom Communications by 23.2% in the 2nd quarter. IFP Advisors Inc now owns 2,069 shares of the company's stock valued at $179,000 after purchasing an additional 389 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Stock Up 0.1%

Shares of ZM opened at $95.57 on Friday. The company has a market cap of $27.89 billion, a P/E ratio of 8.85, a PEG 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 firm's 50 day moving average price is $96.84 and its 200 day moving average price 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 the consensus estimate of $1.48 by $0.07. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company 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. Research analysts forecast that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.

Insider Buying and Selling

In other Zoom Communications news, insider Velchamy Sankarlingam sold 2,590 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $95.81, for a total transaction of $248,147.90. Following the sale, the insider owned 149,265 shares in the company, valued at $14,301,079.65. This represents a 1.71% decrease in their position. The sale 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, Director Santiago Subotovsky sold 2,637 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $96.63, for a total value of $254,813.31. Following the completion of the sale, the director directly owned 124,423 shares in the company, valued at $12,022,994.49. This represents a 2.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,108 shares of company stock valued at $5,381,876 in the last three months. 8.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on ZM shares. Sanford C. Bernstein reissued a "market perform" rating and issued a $108.00 target price on shares of Zoom Communications in a research report on Wednesday, August 26th. Mizuho raised their price target on Zoom Communications from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. Wells Fargo & Company lifted their price objective on Zoom Communications from $90.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, May 22nd. Benchmark boosted their price objective on Zoom Communications from $115.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Finally, Citigroup increased their target price on Zoom Communications from $122.00 to $126.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Zoom Communications has a consensus rating of "Moderate Buy" and an average target price of $112.55.

About Zoom Communications

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.

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