QRG Capital Management Inc. Acquires 6,280 Shares of Zoom Communications, Inc. $ZM

QRG Capital Management Inc. lifted its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 18.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 40,060 shares of the company’s stock after purchasing an additional 6,280 shares during the period. QRG Capital Management Inc.’s holdings in Zoom Communications were worth $3,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. Advocate Investing Services LLC bought a new stake in Zoom Communications during the 4th quarter worth about $26,000. Strive Financial Group LLC bought a new position in shares of Zoom Communications in the fourth quarter worth about $27,000. Toth Financial Advisory Corp bought a new position in shares of Zoom Communications in the fourth quarter worth about $28,000. Rexford Capital Inc. lifted its position in shares of Zoom Communications by 45.7% during the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after purchasing an additional 122 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of 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 purchasing an additional 200 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Stock Up 1.8%

ZM stock traded up $1.49 during midday trading on Tuesday, reaching $86.45. The company’s stock had a trading volume of 428,416 shares, compared to its average volume of 4,388,667. Zoom Communications, Inc. has a 52 week low of $69.15 and a 52 week high of $114.74. The stock has a market cap of $25.35 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 4.81 and a beta of 1.01. The business’s 50-day simple moving average is $96.58 and its 200-day simple moving average is $88.83.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Thursday, May 21st. The company reported $1.55 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 company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The business’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. As a group, equities analysts forecast that Zoom Communications, Inc. will post 4.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Zoom Communications from $87.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Jefferies Financial Group upped their price objective on Zoom Communications from $105.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. HSBC increased their price objective on Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Piper Sandler boosted their target price on Zoom Communications from $91.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Finally, Morgan Stanley upped their price target on Zoom Communications from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.33.

Insider Transactions at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the company’s stock in a transaction dated 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 directly owned 141,971 shares of the company’s stock, valued at $12,130,002.24. This represents a 5.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric S. Yuan sold 69,923 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $81.22, for a total transaction of $5,679,146.06. Following the completion of the sale, the chief executive officer owned 36,796 shares in the company, valued at $2,988,571.12. This represents a 65.52% 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. In the last ninety days, insiders have sold 159,275 shares of company stock valued at $14,137,919. Corporate insiders own 8.83% of the company’s stock.

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.