Torray Investment Partners LLC Buys 11,456 Shares of Zoom Communications, Inc. $ZM

Torray Investment Partners LLC boosted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 46.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,252 shares of the company’s stock after purchasing an additional 11,456 shares during the period. Torray Investment Partners LLC’s holdings in Zoom Communications were worth $3,291,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Zoom Communications by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,215 shares of the company’s stock worth $2,380,000 after purchasing an additional 107 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Zoom Communications by 27.2% in the 3rd quarter. Fortitude Family Office LLC now owns 533 shares of the company’s stock valued at $48,000 after buying an additional 114 shares during the last quarter. MGO One Seven LLC boosted its holdings in shares of Zoom Communications by 7.3% in the 3rd quarter. MGO One Seven LLC now owns 2,820 shares of the company’s stock valued at $256,000 after buying an additional 193 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Zoom Communications by 133.3% in the 2nd 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 during the last quarter. Finally, DGS Capital Management LLC grew its stake in shares of Zoom Communications by 6.1% in the first quarter. DGS Capital Management LLC now owns 4,120 shares of the company’s stock valued at $331,000 after buying an additional 236 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Eric Yuan sold 12,100 shares of Zoom Communications stock in a transaction dated 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 completion of the sale, the chief executive officer owned 22,998 shares of the company’s stock, valued at approximately $2,155,832.52. The trade was a 34.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,645 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $99.26, for a total transaction of $758,842.70. Following the completion of the transaction, the insider owned 151,813 shares in the company, valued at approximately $15,068,958.38. This trade represents a 4.79% 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. Over the last three months, insiders sold 68,845 shares of company stock valued at $6,711,415. 8.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $104.00 price target on shares of Zoom Communications in a research note on Wednesday, October 21st. BTIG Research reissued a “buy” rating and issued a $125.00 price objective on shares of Zoom Communications in a research report on Wednesday, October 21st. Weiss Ratings upgraded shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of Zoom Communications from $105.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.48.

Zoom Communications Trading Down 0.2%

ZM stock opened at $91.84 on Wednesday. Zoom Communications, Inc. has a 1-year low of $70.70 and a 1-year high of $114.74. The business’s 50 day simple moving average is $94.99 and its 200 day simple moving average is $91.99. The firm has a market capitalization of $26.80 billion, a PE ratio of 8.50, a PEG ratio of 4.11 and a beta of 1.02.

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, beating the consensus estimate of $1.48 by $0.07. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $1.53 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. 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 predict that Zoom Communications, Inc. will post 4.24 EPS for the current fiscal year.

Zoom Communications Profile

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.

The company’s product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.