Zoom Communications, Inc. $ZM Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,458,804 shares of the company’s stock after selling 619,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Zoom Communications were worth $197,663,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Advocate Investing Services LLC acquired a new position in shares of Zoom Communications in the 4th quarter valued at $26,000. Strive Financial Group LLC acquired a new stake in Zoom Communications during the fourth quarter valued at $27,000. Toth Financial Advisory Corp acquired a new stake in Zoom Communications during the fourth quarter valued at $28,000. Rexford Capital Inc. grew its position in Zoom Communications by 45.7% during the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after buying an additional 122 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in Zoom Communications by 94.8% in the fourth quarter. Sound Income Strategies LLC now owns 411 shares of the company’s stock valued at $33,000 after buying an additional 200 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Stock Performance

NASDAQ:ZM opened at $87.99 on Friday. The company has a fifty day moving average of $93.30 and a two-hundred day moving average of $88.99. The stock has a market capitalization of $25.80 billion, a PE ratio of 12.92, a P/E/G ratio of 4.51 and a beta of 1.01. Zoom Communications, Inc. has a fifty-two week low of $69.15 and a fifty-two week high of $114.74.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.13. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. 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. Research analysts forecast that Zoom Communications, Inc. will post 4.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZM has been the topic of several recent analyst reports. Cantor Fitzgerald increased their target price on shares of Zoom Communications from $87.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Piper Sandler lifted their price target on Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Zoom Communications in a report on Thursday, July 2nd. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, May 20th. Finally, Benchmark raised their price objective on Zoom Communications from $115.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.33.

Insider Buying and Selling

In other news, CFO Michelle Chang sold 8,489 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $90.80, for a total value of $770,801.20. Following the transaction, the chief financial officer owned 35,452 shares in the company, valued at $3,219,041.60. This trade represents a 19.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 Santiago Subotovsky sold 2,637 shares of Zoom Communications stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $90.15, for a total value of $237,725.55. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 48,517 shares of company stock worth $5,061,783. 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.