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

Renaissance Technologies LLC trimmed its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 20.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,458,804 shares of the company’s stock after selling 619,700 shares during the quarter. Renaissance Technologies LLC owned 0.83% of Zoom Communications worth $197,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ZM. Vanguard Group Inc. raised its stake in Zoom Communications by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock valued at $2,327,002,000 after buying an additional 1,029,623 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Zoom Communications by 43.9% during the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock worth $1,052,328,000 after acquiring an additional 3,718,186 shares during the last quarter. State Street Corp increased its holdings in shares of Zoom Communications by 5.0% during the fourth quarter. State Street Corp now owns 7,582,924 shares of the company’s stock valued at $654,331,000 after acquiring an additional 363,776 shares in the last quarter. Norges Bank acquired a new position in shares of Zoom Communications during the fourth quarter valued at about $509,788,000. Finally, Geode Capital Management LLC raised its position in shares of Zoom Communications by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company’s stock valued at $445,254,000 after purchasing an additional 152,862 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoom Communications

In related news, CFO Michelle Chang sold 8,489 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $90.80, for a total transaction of $770,801.20. Following the completion of the transaction, the chief financial officer owned 35,452 shares of the company’s stock, valued at $3,219,041.60. This trade represents a 19.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, CEO Eric S. Yuan sold 12,100 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total transaction of $1,350,481.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 48,517 shares of company stock worth $5,061,783 over the last 90 days. 8.83% of the stock is currently owned by company insiders.

Zoom Communications Stock Up 4.6%

Shares of NASDAQ ZM opened at $87.99 on Friday. Zoom Communications, Inc. has a 52 week low of $69.15 and a 52 week high of $114.74. The business’s 50 day moving average price is $93.30 and its 200 day moving average price is $88.99. The firm has a market cap of $25.80 billion, a P/E ratio of 12.92, a P/E/G ratio of 4.51 and a beta of 1.01.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.22 billion. During the same period last year, the firm posted $1.43 EPS. Zoom Communications’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, research analysts expect that Zoom Communications, Inc. will post 4.21 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ZM. Rosenblatt Securities reissued a “buy” rating and set a $130.00 target price on shares of Zoom Communications in a research report on Thursday. Citigroup raised their price target on shares of Zoom Communications from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. HSBC lifted their price objective on shares of Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Morgan Stanley boosted their price objective on shares of Zoom Communications from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Zoom Communications in a research report on Tuesday, June 30th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.33.

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.