Zoom Communications, Inc. $ZM Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 6.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 494,222 shares of the company’s stock after selling 31,854 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Zoom Communications were worth $44,861,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Zoom Communications by 133.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Zoom Communications by 100.4% during the first quarter. V Square Quantitative Management LLC now owns 505 shares of the company’s stock valued at $41,000 after acquiring an additional 253 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its position in shares of Zoom Communications by 400.0% during the second quarter. Strategic Investment Solutions Inc. IL now owns 500 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of Zoom Communications by 133.8% during the third quarter. Elevation Wealth Partners LLC now owns 477 shares of the company’s stock worth $43,000 after purchasing an additional 273 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Zoom Communications by 27.2% in the 3rd quarter. Fortitude Family Office LLC now owns 533 shares of the company’s stock valued at $48,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Communications Price Performance

Shares of Zoom Communications stock opened at $91.84 on Thursday. The company has a 50-day moving average of $94.81 and a 200 day moving average of $92.04. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74. The firm has a market cap of $26.80 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 4.10 and a beta of 1.02.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 earnings per share. 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. On average, equities analysts anticipate that Zoom Communications, Inc. will post 4.24 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on ZM. 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. Oppenheimer raised Zoom Communications from a “market perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a research report on Wednesday, October 21st. Weiss Ratings raised Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Zoom Communications in a research note on Thursday, October 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Zoom Communications in a research note on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.48.

Insider Activity at Zoom Communications

In other Zoom Communications news, Director Herbert Mcmaster sold 3,000 shares of the business’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $94.71, for a total value of $284,130.00. Following the completion of the sale, the director directly owned 8,479 shares of the company’s stock, valued at $803,046.09. The trade was a 26.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Yuan sold 12,100 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $93.74, for a total value of $1,134,254.00. Following the sale, the chief executive officer directly owned 22,998 shares in the company, valued at $2,155,832.52. This trade represents a 34.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,845 shares of company stock worth $6,711,415 in the last three months. 8.83% of the stock is owned by 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.