Convergence Investment Partners LLC Buys 16,606 Shares of Zoom Communications, Inc. $ZM

Convergence Investment Partners LLC boosted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 74.3% during the 4th quarter, HoldingsChannel reports. The fund owned 38,946 shares of the company’s stock after purchasing an additional 16,606 shares during the period. Convergence Investment Partners LLC’s holdings in Zoom Communications were worth $3,361,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in Zoom Communications during the fourth quarter worth approximately $28,000. Root Financial Partners LLC bought a new stake in Zoom Communications during the third quarter worth approximately $33,000. Sound Income Strategies LLC increased its stake in Zoom Communications by 94.8% during the fourth quarter. Sound Income Strategies LLC now owns 411 shares of the company’s stock worth $33,000 after acquiring an additional 200 shares during the last quarter. Quent Capital LLC bought a new stake in Zoom Communications during the third quarter worth approximately $34,000. Finally, Cloud Capital Management LLC bought a new stake in Zoom Communications during the third quarter worth approximately $42,000. 66.54% of the stock is owned by institutional investors.

Zoom Communications Stock Performance

ZM opened at $100.16 on Friday. The stock has a market cap of $29.51 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 5.62 and a beta of 1.00. The stock’s 50 day moving average price is $86.46 and its 200-day moving average price is $86.21. Zoom Communications, Inc. has a one year low of $69.15 and a one year high of $111.56.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Wednesday, February 25th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.04). The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Zoom Communications had a net margin of 39.03% and a return on equity of 11.88%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. Zoom Communications has set its FY 2027 guidance at 5.770-5.810 EPS and its Q1 2027 guidance at 1.400-1.420 EPS. As a group, analysts predict that Zoom Communications, Inc. will post 3.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZM shares. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Zoom Communications in a research note on Friday, March 13th. Sanford C. Bernstein reduced their price objective on Zoom Communications from $90.00 to $88.00 and set a “market perform” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen cut Zoom Communications from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Citizens Jmp reaffirmed a “market perform” rating on shares of Zoom Communications in a research note on Tuesday, February 24th. Finally, KeyCorp upped their target price on Zoom Communications from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Thursday, February 26th. Fourteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.57.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 7,645 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total value of $653,188.80. Following the completion of the sale, the insider owned 141,971 shares in the company, valued at approximately $12,130,002.24. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $81.32, for a total value of $690,325.48. Following the completion of the sale, the chief financial officer owned 30,467 shares of the company’s stock, valued at $2,477,576.44. The trade was a 21.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 144,329 shares of company stock valued at $12,364,989. 11.51% 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.