6,620 Shares in Zoom Communications, Inc. $ZM Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. purchased a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) during the 4th quarter, Holdings Channel reports. The fund purchased 6,620 shares of the company’s stock, valued at approximately $571,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft purchased a new stake in Zoom Communications during the 4th quarter valued at $584,000. Allworth Financial LP raised its holdings in Zoom Communications by 425.9% during the 4th quarter. Allworth Financial LP now owns 17,350 shares of the company’s stock valued at $1,497,000 after buying an additional 14,051 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Zoom Communications by 65.4% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,375 shares of the company’s stock worth $723,000 after purchasing an additional 3,313 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Zoom Communications by 106.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 751,624 shares of the company’s stock worth $64,858,000 after purchasing an additional 387,824 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs boosted its stake in shares of Zoom Communications by 12.7% during the 4th quarter. AG2R LA Mondiale Gestion D Actifs now owns 13,858 shares of the company’s stock worth $1,196,000 after purchasing an additional 1,564 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Communications Stock Performance

Shares of NASDAQ:ZM opened at $98.87 on Tuesday. The firm has a market cap of $29.13 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 5.73 and a beta of 1.00. The firm’s 50 day simple moving average is $86.89 and its 200-day simple moving average is $86.31. Zoom Communications, Inc. has a one year low of $69.15 and a one year high of $111.56.

Zoom Communications (NASDAQ:ZM) last issued 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 company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Zoom Communications had a return on equity of 11.88% and a net margin of 39.03%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.41 earnings per share. 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. Equities research analysts predict that Zoom Communications, Inc. will post 3.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on ZM shares. Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Zoom Communications in a report on Friday, March 13th. Argus upgraded Zoom Communications to a “hold” rating in a report on Monday, March 9th. Sanford C. Bernstein reduced their price target on Zoom Communications from $90.00 to $88.00 and set a “market perform” rating on the stock in a report on Thursday, February 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price target on shares of Zoom Communications in a report on Thursday, February 26th. Fourteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Zoom Communications presently has a consensus rating of “Hold” and an average target price of $96.57.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, Director Santiago Subotovsky sold 5,274 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $106.58, for a total value of $562,102.92. Following the completion of the sale, the director directly owned 142,882 shares in the company, valued at approximately $15,228,363.56. This represents a 3.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,645 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $12,130,002.24. This represents a 5.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 144,329 shares of company stock valued at $12,364,989. 10.78% of the stock is 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.