Zoom Communications, Inc. $ZM Position Increased by State of Wyoming

State of Wyoming grew its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 805.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,492 shares of the company’s stock after buying an additional 5,775 shares during the period. State of Wyoming’s holdings in Zoom Communications were worth $589,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Zoom Communications by 15,035.9% in the 3rd quarter. International Assets Investment Management LLC now owns 557,000 shares of the company’s stock valued at $50,559,000 after acquiring an additional 553,320 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Zoom Communications by 14.4% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 226,074 shares of the company’s stock valued at $20,521,000 after acquiring an additional 28,500 shares in the last quarter. Soltis Investment Advisors LLC lifted its stake in Zoom Communications by 17.6% during the third quarter. Soltis Investment Advisors LLC now owns 3,097 shares of the company’s stock worth $281,000 after purchasing an additional 464 shares during the last quarter. Choreo LLC lifted its stake in Zoom Communications by 8.1% during the third quarter. Choreo LLC now owns 7,374 shares of the company’s stock worth $669,000 after purchasing an additional 551 shares during the last quarter. Finally, VestGen Advisors LLC acquired a new position in Zoom Communications in the third quarter worth $233,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of a number of research reports. Bank of America started coverage on shares of Zoom Communications in a report on Wednesday, August 19th. They issued a “buy” rating and a $130.00 price objective for the company. Weiss Ratings raised shares of Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of Zoom Communications in a research report on Wednesday, October 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Zoom Communications in a report on Wednesday, October 21st. Finally, UBS Group lowered their price objective on shares of Zoom Communications from $115.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, October 21st. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.48.

Zoom Communications Stock Performance

Zoom Communications stock opened at $95.50 on Monday. The company has a 50-day simple moving average of $95.56 and a 200-day simple moving average of $91.90. The firm has a market capitalization of $27.86 billion, a P/E ratio of 8.84, a P/E/G ratio of 4.26 and a beta of 1.02. Zoom Communications, Inc. has a one year low of $70.70 and a one year 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, beating 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 firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm posted $1.53 EPS. Zoom Communications’s quarterly 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. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 4.24 earnings per share for the current year.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $99.26, for a total transaction of $758,842.70. Following the transaction, the insider directly owned 151,813 shares of the company’s stock, valued at approximately $15,068,958.38. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, Director Herbert Mcmaster sold 1,500 shares of Zoom Communications stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $101.25, for a total transaction of $151,875.00. Following the sale, the director owned 6,979 shares in the company, valued at approximately $706,623.75. This represents a 17.69% 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. Insiders have sold 88,856 shares of company stock worth $8,725,094 over the last ninety days. 8.83% of the stock is currently owned by company insiders.

Zoom Communications Company 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.