Zoom Communications, Inc. $ZM Stock: Summit Global Investments Lowers Stake

Summit Global Investments trimmed its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 63.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,076 shares of the company’s stock after selling 6,973 shares during the quarter. Summit Global Investments’ holdings in Zoom Communications were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Zoom Communications by 251.2% in the 2nd quarter. Tidal Investments LLC now owns 123,450 shares of the company’s stock worth $10,655,000 after acquiring an additional 88,303 shares during the last quarter. Bull Harbor Capital LLC purchased a new position in shares of Zoom Communications during the 1st quarter worth about $939,000. First Heartland Consultants Inc. purchased a new position in shares of Zoom Communications during the 3rd quarter worth about $1,870,000. Engineers Gate Manager LP grew its holdings in Zoom Communications by 153.0% during the 2nd quarter. Engineers Gate Manager LP now owns 57,286 shares of the company’s stock valued at $4,944,000 after purchasing an additional 34,646 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in Zoom Communications during the 1st quarter valued at about $2,689,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Communications

In other news, Director Herbert Mcmaster sold 3,000 shares of Zoom Communications stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $94.71, for a total transaction of $284,130.00. Following the completion of the sale, the director owned 8,479 shares of the company’s stock, valued at approximately $803,046.09. The trade was a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Santiago Subotovsky sold 3,812 shares of Zoom Communications stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $100.56, for a total transaction of $383,334.72. Following the sale, the director directly owned 117,974 shares of the company’s stock, valued at $11,863,465.44. This represents a 3.13% 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. In the last quarter, insiders sold 68,845 shares of company stock valued at $6,711,415. 8.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ZM has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Zoom Communications in a research note on Wednesday, October 21st. Jefferies Financial Group cut their target price on Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday, August 26th. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a report on Wednesday, August 26th. KeyCorp reiterated a “sector weight” rating on shares of Zoom Communications in a report on Wednesday, August 26th. Finally, Bank of America started coverage on Zoom Communications in a research note on Wednesday, August 19th. They set a “buy” rating and a $130.00 price target for the company. Sixteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Zoom Communications presently has an average rating of “Moderate Buy” and an average price target of $114.48.

Zoom Communications Trading Down 0.2%

NASDAQ ZM opened at $91.84 on Wednesday. The stock has a market cap of $26.80 billion, a PE ratio of 25.34, a PEG ratio of 4.11 and a beta of 1.02. Zoom Communications, Inc. has a 12 month low of $70.70 and a 12 month high of $114.74. The company’s 50-day moving average price is $94.99 and its 200-day moving average price is $91.99.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. 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.

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.