Zoom Communications, Inc. $ZM Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,515 shares of the company’s stock, valued at approximately $5,493,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Zoom Communications by 10.8% in the first quarter. Pacer Advisors Inc. now owns 2,595,840 shares of the company’s stock valued at $208,680,000 after purchasing an additional 253,181 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Zoom Communications by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,352,126 shares of the company’s stock worth $189,051,000 after buying an additional 94,043 shares during the period. Bank of America Corp DE boosted its holdings in Zoom Communications by 50.5% in the 1st quarter. Bank of America Corp DE now owns 1,767,728 shares of the company’s stock worth $142,108,000 after buying an additional 592,899 shares during the period. Bank of New York Mellon Corp boosted its holdings in Zoom Communications by 44.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,411,745 shares of the company’s stock worth $113,490,000 after buying an additional 434,981 shares during the period. Finally, First Trust Advisors LP grew its stake in Zoom Communications by 2.8% in the 1st quarter. First Trust Advisors LP now owns 1,362,501 shares of the company’s stock valued at $109,531,000 after buying an additional 36,657 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ZM shares. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Zoom Communications in a report on Thursday, October 22nd. Citizens Jmp reaffirmed a “market perform” rating on shares of Zoom Communications in a report on Wednesday, August 26th. KeyCorp reiterated a “sector weight” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. BTIG Research reiterated a “buy” rating and issued a $125.00 price target on shares of Zoom Communications in a research report on Wednesday, October 21st. Finally, Morgan Stanley boosted their price objective on Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.48.

Zoom Communications Trading Down 3.3%

ZM stock opened at $88.82 on Friday. The firm has a 50 day moving average of $94.71 and a 200-day moving average of $92.08. Zoom Communications, Inc. has a 12 month low of $70.70 and a 12 month high of $114.74. The firm has a market capitalization of $25.92 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 4.10 and a beta of 1.02.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 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 during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $1.53 earnings per share. Zoom Communications’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 4.24 EPS for the current year.

Insider Activity

In other news, Director Herbert Mcmaster sold 3,000 shares of the business’s 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 transaction, the director directly owned 8,479 shares in the company, valued at $803,046.09. The trade was a 26.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Santiago Subotovsky sold 3,812 shares of the company’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $100.56, for a total transaction of $383,334.72. Following the completion of the transaction, the director directly owned 117,974 shares in the company, valued at approximately $11,863,465.44. The trade was a 3.13% 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 three months, insiders sold 80,945 shares of company stock worth $7,818,565. Company insiders own 8.83% of the company’s stock.

Zoom Communications Company Profile

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.