33,445 Shares in Zoom Communications, Inc. $ZM Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in Zoom Communications, Inc. (NASDAQ:ZM) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 33,445 shares of the company’s stock, valued at approximately $2,689,000.

A number of other hedge funds have also recently added to or reduced their stakes in ZM. Advocate Investing Services LLC bought a new stake in shares of Zoom Communications during the fourth quarter valued at approximately $26,000. Strive Financial Group LLC bought a new position in shares of Zoom Communications in the 4th quarter worth $27,000. Toth Financial Advisory Corp bought a new position in shares of Zoom Communications in the 4th quarter worth $28,000. Rexford Capital Inc. lifted its holdings in shares of Zoom Communications by 45.7% in the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after purchasing an additional 122 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in Zoom Communications by 94.8% in the 4th quarter. Sound Income Strategies LLC now owns 411 shares of the company’s stock valued at $33,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Communications Stock Up 4.1%

Shares of NASDAQ:ZM opened at $96.07 on Friday. The business’s 50 day moving average is $92.61 and its 200 day moving average is $89.22. Zoom Communications, Inc. has a 12-month low of $69.15 and a 12-month high of $114.74. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 5.15 and a beta of 1.01.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.13. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.Zoom Communications’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 EPS. 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. As a group, equities research analysts expect that Zoom Communications, Inc. will post 4.21 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on ZM. Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a research note on Thursday, July 2nd. Morgan Stanley raised their price objective on shares of Zoom Communications from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Zoom Communications in a report on Tuesday, June 30th. Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, Robert W. Baird boosted their target price on shares of Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.33.

Insider Transactions at Zoom Communications

In other news, Director Santiago Subotovsky sold 2,637 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $90.15, for a total value of $237,725.55. Following the completion of the sale, the director owned 138,554 shares in the company, valued at $12,490,643.10. This represents a 1.87% decrease in their ownership of the stock. 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 8,489 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $90.80, for a total transaction of $770,801.20. Following the transaction, the chief financial officer directly owned 35,452 shares in the company, valued at $3,219,041.60. The trade was a 19.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 45,874 shares of company stock worth $4,789,950 in the last quarter. 8.83% of the stock is currently owned by corporate insiders.

About Zoom Communications

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.