Zoom Communications, Inc. $ZM Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC cut its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 44.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,655 shares of the company's stock after selling 17,291 shares during the quarter. Convergence Investment Partners LLC's holdings in Zoom Communications were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted its holdings in Zoom Communications by 2.0% in the 4th quarter. Kestra Advisory Services LLC now owns 5,928 shares of the company's stock worth $512,000 after buying an additional 116 shares in the last quarter. 3Chopt Investment Partners LLC grew its stake in shares of Zoom Communications by 1.6% during the first quarter. 3Chopt Investment Partners LLC now owns 7,370 shares of the company's stock valued at $592,000 after acquiring an additional 119 shares in the last quarter. Rexford Capital Inc. grew its stake in shares of Zoom Communications by 45.7% during the first quarter. Rexford Capital Inc. now owns 389 shares of the company's stock valued at $31,000 after acquiring an additional 122 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Zoom Communications by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 24,263 shares of the company's stock worth $2,094,000 after acquiring an additional 123 shares during the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Zoom Communications by 33.5% during the fourth quarter. Root Financial Partners LLC now owns 542 shares of the company's stock worth $47,000 after acquiring an additional 136 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Communications Stock Performance

Shares of Zoom Communications stock opened at $89.77 on Wednesday. The firm has a market cap of $26.32 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 4.87 and a beta of 1.01. The firm's 50-day simple moving average is $94.16 and its 200-day simple moving average is $88.99. Zoom Communications, Inc. has a 1 year low of $69.15 and a 1 year high of $114.74.

Zoom Communications (NASDAQ:ZM - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.42 by $0.13. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. 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 analysts predict that Zoom Communications, Inc. will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Michelle Chang sold 8,489 shares of Zoom Communications stock in a transaction that occurred 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 owned 35,452 shares in the company, valued at approximately $3,219,041.60. This trade represents a 19.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 5,274 shares of Zoom Communications stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $109.78, for a total value of $578,979.72. Following the completion of the transaction, the director owned 137,608 shares of the company's stock, valued at approximately $15,106,606.24. The trade was a 3.69% 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. Insiders have sold a total of 48,517 shares of company stock valued at $5,061,783 in the last quarter. Insiders own 8.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ZM shares. Morgan Stanley boosted their price target on Zoom Communications from $92.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Piper Sandler raised their price objective on Zoom Communications from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Citizens Jmp restated a "market perform" rating on shares of Zoom Communications in a report on Wednesday, May 20th. Citigroup upped their target price on Zoom Communications from $122.00 to $126.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Finally, Cantor Fitzgerald increased their target price on Zoom Communications from $87.00 to $104.00 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.33.

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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