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

Bank of Nova Scotia cut its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 62.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Zoom Communications by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock valued at $2,327,002,000 after buying an additional 1,029,623 shares during the period. AQR Capital Management LLC raised its holdings in Zoom Communications by 43.9% in the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock valued at $1,052,328,000 after acquiring an additional 3,718,186 shares in the last quarter. State Street Corp lifted its stake in Zoom Communications by 5.0% in the fourth quarter. State Street Corp now owns 7,582,924 shares of the company’s stock worth $654,331,000 after acquiring an additional 363,776 shares during the last quarter. Norges Bank acquired a new position in Zoom Communications during the 4th quarter worth approximately $509,788,000. Finally, Geode Capital Management LLC grew its holdings in Zoom Communications by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company’s stock worth $445,254,000 after acquiring an additional 152,862 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZM shares. HSBC lifted their price objective on shares of Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Morgan Stanley raised their price target on Zoom Communications from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Piper Sandler lifted their price target on Zoom Communications from $91.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings raised Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, KeyCorp raised Zoom Communications from an “underweight” rating to a “sector weight” rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.33.

Zoom Communications Price Performance

Shares of Zoom Communications stock opened at $92.41 on Thursday. The firm’s fifty day simple moving average is $92.89 and its 200-day simple moving average is $89.12. The stock has a market capitalization of $27.10 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 4.90 and a beta of 1.01. Zoom Communications, Inc. has a 12 month low of $69.15 and a 12 month high of $114.74.

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

Insider Transactions at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 12,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $111.61, for a total transaction of $1,350,481.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of Zoom Communications stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $90.80, for a total value of $770,801.20. Following the completion of the transaction, the chief financial officer owned 35,452 shares in the company, valued at $3,219,041.60. This trade represents a 19.32% decrease in their ownership of the stock. 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 48,517 shares of company stock worth $5,061,783. Company insiders own 8.83% of the company’s stock.

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.