TD Asset Management Inc Purchases 40,984 Shares of Zoom Communications, Inc. $ZM

TD Asset Management Inc grew its position in Zoom Communications, Inc. (NASDAQ:ZM) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,881 shares of the company’s stock after purchasing an additional 40,984 shares during the quarter. TD Asset Management Inc’s holdings in Zoom Communications were worth $34,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ZM. Norges Bank bought a new position in shares of Zoom Communications in the fourth quarter worth approximately $509,788,000. AQR Capital Management LLC boosted its position in shares of Zoom Communications by 23.4% in the third quarter. AQR Capital Management LLC now owns 8,477,057 shares of the company’s stock worth $699,357,000 after purchasing an additional 1,607,253 shares during the period. Two Sigma Investments LP bought a new position in shares of Zoom Communications in the third quarter worth approximately $86,709,000. Vanguard Group Inc. boosted its position in shares of Zoom Communications by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock worth $2,327,002,000 after purchasing an additional 1,029,623 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Zoom Communications by 46.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,645,846 shares of the company’s stock worth $218,282,000 after purchasing an additional 836,594 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Zoom Communications Stock Down 3.4%

ZM stock opened at $101.62 on Friday. The firm’s fifty day simple moving average is $94.38 and its two-hundred day simple moving average is $88.16. The stock has a market capitalization of $29.80 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 5.81 and a beta of 1.01. Zoom Communications, Inc. has a twelve month low of $69.15 and a twelve month high of $114.74.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 earnings per share. 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, equities research analysts expect that Zoom Communications, Inc. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

ZM has been the topic of several research analyst reports. BTIG Research boosted their target price on shares of Zoom Communications from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Jefferies Financial Group boosted their target price on shares of Zoom Communications from $105.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Needham & Company LLC boosted their target price on shares of Zoom Communications from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Zoom Communications from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Morgan Stanley boosted their target price on shares of Zoom Communications from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.33.

Insider Transactions at Zoom Communications

In other news, COO Aparna Bawa sold 12,886 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $87.62, for a total value of $1,129,071.32. Following the transaction, the chief operating officer directly owned 1,978 shares in the company, valued at approximately $173,312.36. This represents a 86.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the company’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $81.32, for a total transaction of $690,325.48. Following the completion of the transaction, the chief financial officer owned 30,467 shares in the company, valued at approximately $2,477,576.44. The trade was a 21.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 159,228 shares of company stock valued at $14,102,835. Company insiders own 11.51% 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.