Wellington Management Group LLP Buys 11,964 Shares of Zoom Communications, Inc. $ZM

Wellington Management Group LLP lifted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 65.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 30,334 shares of the company’s stock after acquiring an additional 11,964 shares during the period. Wellington Management Group LLP’s holdings in Zoom Communications were worth $2,618,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Advocate Investing Services LLC bought a new position in Zoom Communications in the 4th quarter valued at approximately $26,000. Strive Financial Group LLC acquired a new stake in Zoom Communications in the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Zoom Communications by 133.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Rexford Capital Inc. grew its stake in shares of Zoom Communications by 45.7% during the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after buying an additional 122 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Zoom Communications by 83.3% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $38,000 after buying an additional 200 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZM has been the subject of a number of research reports. Bank of America initiated coverage on Zoom Communications in a research note on Wednesday, August 19th. They issued a “buy” rating and a $130.00 price target for the company. Citizens Jmp restated a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Benchmark upped their target price on Zoom Communications from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. HSBC increased their target price on Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley lifted their price target 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 research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $112.55.

Zoom Communications Stock Performance

ZM stock opened at $95.46 on Friday. The company has a market capitalization of $27.85 billion, a P/E ratio of 8.84, a PEG ratio of 4.45 and a beta of 1.04. The company has a fifty day moving average price of $96.67 and a 200-day moving average price of $91.77. Zoom Communications, Inc. has a 52-week low of $70.70 and a 52-week high of $114.74.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. Zoom Communications’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. 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 forecast that Zoom Communications, Inc. will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric Yuan sold 12,100 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $95.34, for a total value of $1,153,614.00. Following the sale, the chief executive officer owned 22,998 shares in the company, valued at approximately $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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Santiago Subotovsky sold 7,911 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $101.33, for a total value of $801,621.63. Following the completion of the sale, the director directly owned 127,060 shares of the company’s stock, valued at approximately $12,874,989.80. The trade was a 5.86% decrease in their position. 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 sold a total of 53,518 shares of company stock valued at $5,133,728 over the last 90 days. 8.83% of the stock is owned by corporate insiders.

About Zoom Communications

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.

Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.