Hohimer Wealth Management LLC Purchases New Holdings in Zoom Communications, Inc. $ZM

Hohimer Wealth Management LLC acquired a new position in Zoom Communications, Inc. (NASDAQ:ZM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,278 shares of the company’s stock, valued at approximately $4,473,000.

A number of other institutional investors have also made changes to their positions in the business. Atreides Management LP bought a new position in Zoom Communications during the first quarter worth about $105,761,000. Rubric Capital Management LP bought a new position in shares of Zoom Communications during the 1st quarter worth approximately $80,471,000. Bank of America Corp DE increased its holdings in shares of Zoom Communications by 50.5% during the 1st quarter. Bank of America Corp DE now owns 1,767,728 shares of the company’s stock worth $142,108,000 after acquiring an additional 592,899 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Zoom Communications by 15,035.9% during the 3rd quarter. International Assets Investment Management LLC now owns 557,000 shares of the company’s stock worth $50,559,000 after acquiring an additional 553,320 shares during the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Zoom Communications during the 2nd quarter worth approximately $43,925,000. Institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, Director Herbert Mcmaster sold 3,000 shares of Zoom Communications stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $94.71, for a total value of $284,130.00. Following the completion of the sale, the director directly owned 8,479 shares in the company, valued at approximately $803,046.09. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Yuan sold 12,100 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $93.74, for a total transaction of $1,134,254.00. Following the transaction, the chief executive officer owned 22,998 shares in the company, valued at $2,155,832.52. The trade was a 34.47% decrease in their position. 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. Insiders have sold 80,945 shares of company stock valued at $7,818,565 over the last three months. 8.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZM shares. Oppenheimer raised Zoom Communications from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Wednesday, October 21st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $104.00 price objective on shares of Zoom Communications in a report on Wednesday, October 21st. KeyCorp reissued a “sector weight” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. UBS Group cut their target price on shares of Zoom Communications from $115.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. Finally, Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.48.

Zoom Communications Price Performance

NASDAQ ZM opened at $89.88 on Monday. The business has a fifty day moving average price of $94.50 and a two-hundred day moving average price of $92.12. The stock has a market capitalization of $26.23 billion, a PE ratio of 8.32, a PEG ratio of 4.01 and a beta of 1.02. Zoom Communications, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $114.74.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.27 billion. During the same period in the prior year, the business earned $1.53 earnings per share. The company’s revenue for the quarter 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, sell-side analysts expect that Zoom Communications, Inc. will post 4.24 earnings per share for the current year.

About Zoom Communications

Zoom Communications provides cloud-based collaboration and communications software for businesses, organizations and individual users. Its products include Zoom Meetings for video conferencing, Zoom Team Chat, Zoom Phone, Zoom Rooms and tools for webinars and online events. The company also offers Zoom Contact Center and other services designed to support customer interactions and workplace collaboration.

Founded in 2011 by Eric Yuan, Zoom became widely known for its video-conferencing service.