49,278 Shares in Zoom Communications, Inc. $ZM Acquired by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC bought a new stake in Zoom Communications, Inc. (NASDAQ:ZM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 49,278 shares of the company’s stock, valued at approximately $4,473,000.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Zoom Communications by 10.8% during the first quarter. Pacer Advisors Inc. now owns 2,595,840 shares of the company’s stock valued at $208,680,000 after purchasing an additional 253,181 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Zoom Communications by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,352,126 shares of the company’s stock worth $189,051,000 after purchasing an additional 94,043 shares in the last quarter. Bank of America Corp DE raised its position in shares of Zoom Communications by 50.5% in the first quarter. Bank of America Corp DE now owns 1,767,728 shares of the company’s stock valued at $142,108,000 after purchasing an additional 592,899 shares during the period. Bank of New York Mellon Corp raised its position in shares of Zoom Communications by 44.5% in the first quarter. Bank of New York Mellon Corp now owns 1,411,745 shares of the company’s stock valued at $113,490,000 after purchasing an additional 434,981 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Zoom Communications by 2.8% in the first quarter. First Trust Advisors LP now owns 1,362,501 shares of the company’s stock valued at $109,531,000 after purchasing an additional 36,657 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $99.26, for a total transaction of $758,842.70. Following the completion of the sale, the insider directly owned 151,813 shares in the company, valued at approximately $15,068,958.38. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Herbert Mcmaster sold 3,000 shares of Zoom Communications stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $94.71, for a total value of $284,130.00. Following the completion of the sale, the director owned 8,479 shares in the company, valued at approximately $803,046.09. This represents a 26.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 80,945 shares of company stock worth $7,818,565 over the last 90 days. Insiders own 8.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZM. Jefferies Financial Group lowered their target price on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Yorkville Ives assumed coverage on Zoom Communications in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $120.00 price target for the company. Bank of America started coverage on Zoom Communications in a research note on Wednesday, August 19th. They set a “buy” rating and a $130.00 price objective on the stock. UBS Group decreased their price objective on Zoom Communications from $115.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. Finally, KeyCorp reissued a “sector weight” rating on shares of Zoom Communications in a report on Wednesday, August 26th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.48.

Zoom Communications Stock Performance

ZM stock opened at $89.88 on Monday. The company’s 50 day moving average is $94.50 and its 200 day moving average is $92.12. The stock has a market cap of $26.23 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 4.01 and a beta of 1.02. Zoom Communications, Inc. has a 1-year low of $70.70 and a 1-year high of $114.74.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) 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 company 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 EPS. The firm’s revenue 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, sell-side analysts forecast that Zoom Communications, Inc. will post 4.24 EPS for the current fiscal year.

Zoom Communications Company Profile

Zoom Communications provides cloud-based collaboration and communications software for businesses, organizations and individual users. Its products include Zoom Meetings for video conferencing, Zoom Team Chat, Zoom Phone, Zoom Rooms and tools for webinars and online events. The company also offers Zoom Contact Center and other services designed to support customer interactions and workplace collaboration.

Founded in 2011 by Eric Yuan, Zoom became widely known for its video-conferencing service.