Zoom Communications, Inc. $ZM Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,389 shares of the company’s stock after selling 5,665 shares during the period. TD Waterhouse Canada Inc.’s holdings in Zoom Communications were worth $3,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZM. Hsbc Holdings PLC grew its stake in Zoom Communications by 43.6% during the fourth quarter. Hsbc Holdings PLC now owns 422,470 shares of the company’s stock valued at $36,460,000 after acquiring an additional 128,174 shares in the last quarter. Tidal Investments LLC increased its holdings in Zoom Communications by 251.2% during the 2nd quarter. Tidal Investments LLC now owns 123,450 shares of the company’s stock worth $10,655,000 after acquiring an additional 88,303 shares during the period. Bull Harbor Capital LLC bought a new stake in Zoom Communications during the 1st quarter worth approximately $939,000. First Heartland Consultants Inc. bought a new stake in Zoom Communications during the 3rd quarter worth approximately $1,870,000. Finally, Edgestream Partners L.P. purchased a new stake in Zoom Communications in the 1st quarter worth approximately $2,689,000. 66.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Herbert Raymond Mcmaster sold 3,000 shares of Zoom Communications stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $94.71, for a total transaction of $284,130.00. Following the completion of the sale, the director directly owned 8,479 shares of the company’s stock, valued at approximately $803,046.09. The trade was a 26.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Yuan sold 12,100 shares of Zoom Communications stock in a transaction on Monday, October 5th. The stock was sold at an average price of $93.74, for a total transaction of $1,134,254.00. Following the sale, the chief executive officer directly owned 22,998 shares of the company’s stock, valued at $2,155,832.52. This represents a 34.47% 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 90 days, insiders have sold 71,209 shares of company stock worth $6,938,989. Corporate insiders own 8.83% of the company’s stock.

Zoom Communications Trading Down 0.1%

ZM stock opened at $97.46 on Wednesday. The company’s 50 day moving average is $96.88 and its 200 day moving average is $94.88. The stock has a market cap of $28.44 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. Zoom Communications, Inc. has a 1-year low of $70.70 and a 1-year high of $114.74.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm posted $1.53 earnings per share. Zoom Communications’s quarterly revenue 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. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a report on Wednesday, August 26th. BTIG Research reaffirmed a “buy” rating and issued a $125.00 price target on shares of Zoom Communications in a report on Monday, August 24th. Jefferies Financial Group decreased their price target on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Yorkville Ives started coverage on Zoom Communications in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $120.00 price objective on the stock. Finally, KeyCorp reiterated a “sector weight” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.91.

About Zoom Communications

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.

The company’s product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.