Continuum Advisory LLC Acquires Shares of 45,429 Zoom Communications, Inc. $ZM

Continuum Advisory LLC bought a new position in Zoom Communications, Inc. (NASDAQ:ZM) in the second quarter, HoldingsChannel reports. The firm bought 45,429 shares of the company’s stock, valued at approximately $3,921,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZM. Nykredit A S purchased a new position in Zoom Communications during the second quarter worth $6,647,000. Coppell Advisory Solutions LLC bought a new position in Zoom Communications during the second quarter valued at $1,892,000. Proficio Capital Partners LLC purchased a new stake in shares of Zoom Communications in the second quarter valued at $492,000. Rehmann Capital Advisory Group raised its stake in shares of Zoom Communications by 37.4% in the second quarter. Rehmann Capital Advisory Group now owns 17,179 shares of the company’s stock valued at $1,482,000 after acquiring an additional 4,673 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Zoom Communications in the 2nd quarter worth about $1,771,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Communications Trading Up 1.0%

Shares of ZM opened at $95.86 on Thursday. The firm has a fifty day moving average price of $95.28 and a 200-day moving average price of $91.47. The firm has a market capitalization of $28.11 billion, a P/E ratio of 8.88, a P/E/G ratio of 4.39 and a beta of 1.04. Zoom Communications, Inc. has a 12-month low of $70.70 and a 12-month high of $114.74.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 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 for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $1.53 EPS. The firm’s 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. Analysts predict that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ZM. Wells Fargo & Company lifted their price target on shares of Zoom Communications from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $104.00 price objective on shares of Zoom Communications in a research report on Monday, August 24th. Benchmark raised their price objective on shares of Zoom Communications from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Bank of America assumed coverage on Zoom Communications in a research report on Wednesday, August 19th. They set a “buy” rating and a $130.00 target price for the company. Finally, Robert W. Baird upped their target price on Zoom Communications from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.55.

Insider Activity at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,644 shares of Zoom Communications stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $91.98, for a total transaction of $703,095.12. Following the completion of the sale, the insider owned 148,403 shares of the company’s stock, valued at approximately $13,650,107.94. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $90.80, for a total value of $770,801.20. Following the completion of the sale, the chief financial officer owned 35,452 shares of the company’s stock, valued at $3,219,041.60. The trade was a 19.32% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,781 shares of company stock valued at $3,725,300 over the last 90 days. 8.83% of the stock is currently owned by insiders.

Zoom Communications 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.