Proficio Capital Partners LLC Invests $492,000 in Zoom Communications, Inc. $ZM

Proficio Capital Partners LLC purchased a new stake in Zoom Communications, Inc. (NASDAQ:ZM) in the second quarter, Holdings Channel.com reports. The firm purchased 5,697 shares of the company’s stock, valued at approximately $492,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advocate Investing Services LLC bought a new stake in Zoom Communications during the 4th quarter worth about $26,000. Strive Financial Group LLC acquired a new stake in Zoom Communications in the 4th quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Zoom Communications by 133.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Rexford Capital Inc. raised its stake in shares of 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 acquiring an additional 122 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Zoom Communications by 83.3% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 27th. Jefferies Financial Group reduced their price objective on Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $104.00 price objective on shares of Zoom Communications in a research report on Monday, August 24th. Finally, Bank of America started coverage on Zoom Communications in a research note on Wednesday, August 19th. They issued a “buy” rating and a $130.00 target price for the company. Sixteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $112.55.

Zoom Communications Trading Up 1.0%

Shares of NASDAQ ZM opened at $95.86 on Thursday. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The firm’s 50-day moving average is $95.28 and its 200-day moving average is $91.47. The firm has a market capitalization of $28.11 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 4.39 and a beta of 1.04.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. Zoom Communications’s revenue for the quarter was up 4.9% compared to the same quarter last year. 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 research analysts anticipate that Zoom Communications, Inc. will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 12,100 shares of Zoom Communications stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $100.17, for a total transaction of $1,212,057.00. Following the completion of the sale, the chief executive officer directly owned 22,998 shares of the company’s stock, valued at $2,303,709.66. The trade was a 34.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $90.80, for a total value of $770,801.20. Following the completion of the sale, the chief financial officer owned 35,452 shares of the company’s stock, valued at $3,219,041.60. This represents a 19.32% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,781 shares of company stock valued at $3,725,300 over the last 90 days. Company insiders own 8.83% of the company’s stock.

Zoom Communications Company 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.