Royal Bank of Canada reduced its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM – Free Report) by 25.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 228,740 shares of the company’s stock after selling 78,368 shares during the period. Royal Bank of Canada owned approximately 0.08% of Zoom Communications worth $18,389,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of ZM. Allianz Asset Management GmbH lifted its stake in shares of Zoom Communications by 15.6% in the 4th quarter. Allianz Asset Management GmbH now owns 2,112,815 shares of the company’s stock valued at $182,315,000 after purchasing an additional 285,626 shares during the period. Sherry Group Inc. purchased a new position in Zoom Communications in the fourth quarter valued at $894,000. Hsbc Holdings PLC raised its position in shares of Zoom Communications by 43.6% in the fourth quarter. Hsbc Holdings PLC now owns 422,470 shares of the company’s stock worth $36,460,000 after acquiring an additional 128,174 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of Zoom Communications during the 4th quarter worth about $13,312,000. Finally, Geode Capital Management LLC grew its position in shares of Zoom Communications by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company’s stock valued at $445,254,000 after acquiring an additional 152,862 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on ZM. Wells Fargo & Company upped their price target on Zoom Communications from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, May 22nd. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Zoom Communications in a research report on Thursday, July 2nd. Jefferies Financial Group boosted their price target on shares of Zoom Communications from $105.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Piper Sandler increased their price objective on shares of Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, BTIG Research lifted their target price on shares of Zoom Communications from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.33.
Insider Activity at Zoom Communications
In other Zoom Communications news, Director Santiago Subotovsky sold 7,911 shares of the business’s 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 transaction, the director directly owned 127,060 shares in the company, valued at $12,874,989.80. The trade was a 5.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $90.80, for a total transaction of $770,801.20. Following the completion of the sale, the chief financial officer directly owned 35,452 shares of the company’s stock, valued at approximately $3,219,041.60. This trade represents a 19.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter, insiders sold 36,411 shares of company stock valued at $3,739,609. 8.83% of the stock is owned by company insiders.
Zoom Communications Stock Performance
NASDAQ ZM opened at $101.30 on Friday. The stock’s fifty day moving average is $92.53 and its two-hundred day moving average is $89.76. The firm has a market capitalization of $29.70 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 5.40 and a beta of 1.00. Zoom Communications, Inc. has a fifty-two week low of $69.15 and a fifty-two week high of $114.74.
Zoom Communications (NASDAQ:ZM – Get Free Report) last issued its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company earned $1.43 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. 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. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 4.21 EPS for the current year.
Zoom Communications Company 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.
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