Legal & General Group Plc Buys 134,120 Shares of Zoom Communications, Inc. $ZM

Legal & General Group Plc increased its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,005,141 shares of the company’s stock after buying an additional 134,120 shares during the period. Legal & General Group Plc’s holdings in Zoom Communications were worth $165,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Zoom Communications by 16.8% in the 1st quarter. NewEdge Advisors LLC now owns 8,009 shares of the company’s stock worth $591,000 after acquiring an additional 1,153 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Zoom Communications by 59.1% during the first quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock valued at $1,238,000 after acquiring an additional 6,235 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Zoom Communications by 82.0% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock valued at $65,000 after acquiring an additional 397 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Zoom Communications in the second quarter valued at approximately $217,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Zoom Communications by 68.2% in the second quarter. Envestnet Asset Management Inc. now owns 49,370 shares of the company’s stock valued at $3,850,000 after purchasing an additional 20,017 shares during the period. Institutional investors own 66.54% of the company’s stock.

Zoom Communications Stock Down 1.5%

Shares of NASDAQ:ZM opened at $74.94 on Friday. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 4.35 and a beta of 0.93. Zoom Communications, Inc. has a 52 week low of $64.41 and a 52 week high of $97.58. The firm has a 50 day moving average of $85.59 and a 200 day moving average of $84.55.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Wednesday, February 25th. The company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.04). Zoom Communications had a net margin of 39.03% and a return on equity of 11.88%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $1.41 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Zoom Communications has set its FY 2027 guidance at 5.770-5.810 EPS and its Q1 2027 guidance at 1.400-1.420 EPS. On average, sell-side analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insider Activity

In related news, COO Aparna Bawa sold 12,137 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $81.37, for a total transaction of $987,587.69. Following the sale, the chief operating officer owned 1,978 shares of the company’s stock, valued at $160,949.86. This trade represents a 85.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $77.42, for a total value of $191,614.50. Following the sale, the director directly owned 153,442 shares in the company, valued at approximately $11,879,479.64. The trade was a 1.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 183,084 shares of company stock worth $15,704,721 over the last ninety days. 11.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ZM has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $115.00 price objective on shares of Zoom Communications in a report on Thursday, February 26th. KeyCorp upped their target price on Zoom Communications from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Thursday, February 26th. Wall Street Zen downgraded Zoom Communications from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research lowered Zoom Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Piper Sandler lifted their price objective on Zoom Communications from $85.00 to $91.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Fourteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $95.32.

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.