Westpac Banking Corp Increases Holdings in Zoom Communications, Inc. $ZM

Westpac Banking Corp lifted its position in Zoom Communications, Inc. (NASDAQ:ZM) by 39.2% in the 4th quarter, HoldingsChannel reports. The firm owned 24,261 shares of the company’s stock after purchasing an additional 6,829 shares during the quarter. Westpac Banking Corp’s holdings in Zoom Communications were worth $2,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZM. NewEdge Advisors LLC boosted its stake in shares of Zoom Communications by 16.8% in the first quarter. NewEdge Advisors LLC now owns 8,009 shares of the company’s stock worth $591,000 after acquiring an additional 1,153 shares during the last quarter. Intech Investment Management LLC boosted its stake in Zoom Communications by 59.1% during the first quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock worth $1,238,000 after buying an additional 6,235 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Zoom Communications by 82.0% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock worth $65,000 after buying an additional 397 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Zoom Communications during the second quarter worth $217,000. Finally, Invesco Ltd. boosted its stake in Zoom Communications by 7.0% during the second quarter. Invesco Ltd. now owns 730,207 shares of the company’s stock worth $56,942,000 after buying an additional 47,749 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Zoom Communications

Here are the key news stories impacting Zoom Communications this week:

• Positive Sentiment: Zoom recently gained attention after launching ZoomMate, which helped push the stock higher earlier in the week and reinforced investor interest in new AI-related product features. 2 Reasons Why Zoom Stock Popped 10%
• Neutral Sentiment: Zoom also presented at the William Blair Growth Stock Conference, which keeps management visible to investors but does not appear to have produced a major new catalyst on its own. Zoom Communications, Inc. (ZM) Presents at 46th Annual William Blair Growth Stock Conference Transcript
• Neutral Sentiment: A recent article questioned the quality of Zoom’s earnings despite solid results, suggesting investors may be looking for stronger long-term growth confirmation before bidding the stock higher. There May Be Underlying Issues With The Quality Of Zoom Communications’ (NASDAQ:ZM) Earnings
• Neutral Sentiment: Director Santiago Subotovsky sold 5,274 shares in a pre-arranged Rule 10b5-1 transaction, a disclosure that can add to short-term caution even though it does not necessarily signal a change in fundamentals. SEC Form 4
• Negative Sentiment: Broader software-stock selling is weighing on Zoom, with the recent decline appearing tied more to sector profit-taking than to a company-specific operational problem. Zoom, monday.com, and SentinelOne Shares Are Falling, What You Need To Know

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of research analyst reports. Rosenblatt Securities lifted their target price on Zoom Communications from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Royal Bank Of Canada boosted their target price on Zoom Communications from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. KeyCorp raised Zoom Communications from an “underweight” rating to a “sector weight” rating in a research note on Friday, May 22nd. Cantor Fitzgerald boosted their target price on Zoom Communications from $87.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Finally, Mizuho boosted their target price on Zoom Communications from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.33.

Insider Buying and Selling at Zoom Communications

In other news, 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 directly owned 30,467 shares of the company’s stock, valued at approximately $2,477,576.44. This represents a 21.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Also, insider Velchamy Sankarlingam sold 7,645 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total value of $653,188.80. Following the transaction, the insider directly owned 141,971 shares of the company’s stock, valued at approximately $12,130,002.24. This represents a 5.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 147,128 shares of company stock worth $12,752,354. Corporate insiders own 11.51% of the company’s stock.

Zoom Communications Price Performance

ZM opened at $106.20 on Thursday. Zoom Communications, Inc. has a 12 month low of $69.15 and a 12 month high of $114.74. The stock has a market capitalization of $31.14 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 6.40 and a beta of 1.01. The business has a fifty day moving average price of $93.33 and a 200 day moving average price of $87.92.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.42 by $0.13. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.Zoom Communications’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. 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. On average, research analysts anticipate that Zoom Communications, Inc. will post 3.94 earnings per share for the current year.

About Zoom Communications

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.