Steamboat Capital Partners LLC Sells 48,054 Shares of Zoom Communications, Inc. $ZM

Steamboat Capital Partners LLC cut its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 32.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,060 shares of the company’s stock after selling 48,054 shares during the quarter. Zoom Communications accounts for 1.8% of Steamboat Capital Partners LLC’s portfolio, making the stock its 19th biggest holding. Steamboat Capital Partners LLC’s holdings in Zoom Communications were worth $8,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in shares of Zoom Communications by 16.8% in the first quarter. NewEdge Advisors LLC now owns 8,009 shares of the company’s stock valued at $591,000 after purchasing an additional 1,153 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Zoom Communications by 59.1% in the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock valued at $1,238,000 after buying an additional 6,235 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Zoom Communications by 82.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock worth $65,000 after acquiring an additional 397 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Zoom Communications during the 2nd quarter valued at about $217,000. Finally, Invesco Ltd. raised its position in Zoom Communications by 7.0% in the second quarter. Invesco Ltd. now owns 730,207 shares of the company’s stock worth $56,942,000 after purchasing an additional 47,749 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ZM. Cantor Fitzgerald restated a “neutral” rating and set a $104.00 target price on shares of Zoom Communications in a research report on Monday, August 24th. Robert W. Baird upped their price target on Zoom Communications from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Bank of America began coverage on Zoom Communications in a report on Wednesday, August 19th. They set a “buy” rating and a $130.00 price objective for the company. Benchmark boosted their target price on shares of Zoom Communications from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, UBS Group upped their target price on shares of Zoom Communications from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.55.

Zoom Communications Stock Down 4.8%

Shares of ZM stock opened at $96.44 on Wednesday. Zoom Communications, Inc. has a 12 month low of $70.70 and a 12 month high of $114.74. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 4.69 and a beta of 1.04. The stock has a 50-day moving average price of $96.39 and a 200 day moving average price of $91.70.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm earned $1.53 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. 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. Sell-side analysts predict that Zoom Communications, Inc. will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, CEO Eric Yuan sold 12,100 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $95.34, for a total value of $1,153,614.00. Following the sale, the chief executive officer directly owned 22,998 shares in the company, valued at approximately $2,192,629.32. This trade represents a 34.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,644 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $91.98, for a total value of $703,095.12. Following the sale, the insider directly owned 148,403 shares in the company, valued at $13,650,107.94. The trade was a 4.90% 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. Over the last 90 days, insiders have sold 50,881 shares of company stock worth $4,878,914. 8.83% of the stock is currently owned by insiders.

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.