Zoom Communications, Inc. $ZM Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 62.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,177 shares of the company’s stock after selling 37,747 shares during the period. Bank of Nova Scotia’s holdings in Zoom Communications were worth $1,863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Kestra Advisory Services LLC increased its holdings in Zoom Communications by 2.0% in the fourth quarter. Kestra Advisory Services LLC now owns 5,928 shares of the company’s stock valued at $512,000 after buying an additional 116 shares in the last quarter. 3Chopt Investment Partners LLC grew its position in shares of Zoom Communications by 1.6% during the 1st quarter. 3Chopt Investment Partners LLC now owns 7,370 shares of the company’s stock valued at $592,000 after acquiring an additional 119 shares during the period. Rexford Capital Inc. increased its stake in shares of Zoom Communications by 45.7% in the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after purchasing an additional 122 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Zoom Communications by 0.5% in the 4th quarter. New York State Teachers Retirement System now owns 24,263 shares of the company’s stock worth $2,094,000 after purchasing an additional 123 shares during the period. Finally, Root Financial Partners LLC boosted its position in Zoom Communications by 33.5% during the fourth quarter. Root Financial Partners LLC now owns 542 shares of the company’s stock worth $47,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, Director Santiago Subotovsky sold 2,637 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $90.15, for a total value of $237,725.55. Following the completion of the sale, the director directly owned 138,554 shares of the company’s stock, valued at $12,490,643.10. This trade represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric S. Yuan sold 12,100 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total transaction of $1,350,481.00. 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. Insiders sold a total of 48,517 shares of company stock worth $5,061,783 in the last three months. 8.83% of the stock is owned by corporate insiders.

Zoom Communications Trading Up 1.0%

NASDAQ:ZM opened at $92.41 on Thursday. The company has a market cap of $27.10 billion, a P/E ratio of 13.57, a P/E/G ratio of 4.90 and a beta of 1.01. Zoom Communications, Inc. has a twelve month low of $69.15 and a twelve month high of $114.74. The company’s 50-day moving average price is $92.89 and its 200-day moving average price is $89.12.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings data on Thursday, May 21st. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.13. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. Zoom Communications’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. 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. On average, analysts expect that Zoom Communications, Inc. will post 4.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Mizuho upped their target price on Zoom Communications from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Jefferies Financial Group upped their price objective on shares of Zoom Communications from $105.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Piper Sandler lifted their target price on shares of Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a research report on Thursday, July 23rd. Finally, BTIG Research lifted their price objective on Zoom Communications from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.33.

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.