TD Waterhouse Canada Inc. Buys 39,729 Shares of Zoom Communications, Inc. $ZM

TD Waterhouse Canada Inc. lifted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 12,224.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 40,054 shares of the company’s stock after acquiring an additional 39,729 shares during the period. TD Waterhouse Canada Inc.’s holdings in Zoom Communications were worth $3,614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZM. Kestra Advisory Services LLC increased its holdings in Zoom Communications by 2.0% in the 4th quarter. Kestra Advisory Services LLC now owns 5,928 shares of the company’s stock worth $512,000 after acquiring an additional 116 shares in the last quarter. 3Chopt Investment Partners LLC lifted its holdings in Zoom Communications by 1.6% during the first quarter. 3Chopt Investment Partners LLC now owns 7,370 shares of the company’s stock valued at $592,000 after purchasing an additional 119 shares in the last quarter. Rexford Capital Inc. lifted its holdings in Zoom Communications by 45.7% during the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after purchasing an additional 122 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Zoom Communications by 33.5% in the fourth quarter. Root Financial Partners LLC now owns 542 shares of the company’s stock worth $47,000 after purchasing an additional 136 shares during the period. Finally, Prudential PLC boosted its position in shares of Zoom Communications by 5.7% in the fourth quarter. Prudential PLC now owns 3,040 shares of the company’s stock worth $262,000 after purchasing an additional 164 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZM. Cantor Fitzgerald restated a “neutral” rating and set a $104.00 price objective on shares of Zoom Communications in a research report on Monday, August 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Zoom Communications in a report on Wednesday, August 26th. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a research note on Wednesday, August 26th. Benchmark raised their price target on Zoom Communications from $115.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, BTIG Research restated a “buy” rating and issued a $125.00 price objective on shares of Zoom Communications in a research report on Monday, August 24th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.55.

Zoom Communications Price Performance

NASDAQ:ZM opened at $101.33 on Tuesday. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The stock’s 50 day simple moving average is $96.18 and its two-hundred day simple moving average is $91.66. The company has a market cap of $29.57 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 4.69 and a beta of 1.04.

Zoom Communications (NASDAQ:ZM) last posted its earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%.The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the company earned $1.53 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. 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, analysts anticipate that Zoom Communications, Inc. will post 4.26 EPS for the current year.

Insider Buying and Selling at Zoom Communications

In other news, CEO Eric Yuan sold 12,100 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $95.34, for a total value of $1,153,614.00. Following the sale, the chief executive officer directly owned 22,998 shares in the company, valued at $2,192,629.32. The trade was a 34.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,644 shares of the company’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $91.98, for a total transaction of $703,095.12. Following the sale, the insider owned 148,403 shares in the company, valued at $13,650,107.94. This represents a 4.90% 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. Over the last quarter, insiders sold 50,881 shares of company stock valued at $4,878,914. Corporate insiders own 8.83% of the company’s stock.

Zoom Communications Company 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.