Legal & General Group Plc Grows Position in Zoom Communications, Inc. $ZM

Legal & General Group Plc grew its position in Zoom Communications, Inc. (NASDAQ:ZM) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,005,141 shares of the company’s stock after acquiring an additional 134,120 shares during the quarter. Legal & General Group Plc owned 0.66% of Zoom Communications worth $165,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Zoom Communications by 4.0% in the third quarter. Vanguard Group Inc. now owns 25,937,601 shares of the company’s stock valued at $2,139,852,000 after purchasing an additional 986,164 shares in the last quarter. State Street Corp raised its stake in Zoom Communications by 6.0% during the second quarter. State Street Corp now owns 7,189,501 shares of the company’s stock valued at $560,637,000 after purchasing an additional 410,051 shares in the last quarter. Norges Bank purchased a new stake in Zoom Communications during the second quarter valued at $539,998,000. Geode Capital Management LLC lifted its position in Zoom Communications by 0.5% during the second quarter. Geode Capital Management LLC now owns 4,795,307 shares of the company’s stock valued at $373,504,000 after purchasing an additional 23,910 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Zoom Communications by 54.4% during the third quarter. Pacer Advisors Inc. now owns 2,695,193 shares of the company’s stock valued at $222,353,000 after purchasing an additional 949,829 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 7,568 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $86.55, for a total transaction of $655,010.40. Following the transaction, the insider owned 136,182 shares of the company’s stock, valued at approximately $11,786,552.10. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michelle Chang sold 8,417 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $86.54, for a total value of $728,407.18. Following the completion of the sale, the chief financial officer owned 25,482 shares in the company, valued at approximately $2,205,212.28. The trade was a 24.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 183,084 shares of company stock valued at $15,704,721. 11.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZM. Rosenblatt Securities restated a “buy” rating and issued a $115.00 target price on shares of Zoom Communications in a report on Thursday, February 26th. Jefferies Financial Group increased their price target on shares of Zoom Communications from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Wall Street Zen lowered Zoom Communications from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Benchmark reduced their price objective on Zoom Communications from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, Wolfe Research upgraded Zoom Communications from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research report on Thursday, February 5th. Fourteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.32.

Zoom Communications Trading Down 1.5%

Zoom Communications stock opened at $74.94 on Friday. Zoom Communications, Inc. has a 12-month low of $64.41 and a 12-month high of $97.58. The firm has a 50-day moving average price of $85.59 and a 200-day moving average price of $84.55. The firm has a market capitalization of $22.19 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 4.35 and a beta of 0.93.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.44 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 firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. 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. As a group, sell-side analysts predict that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Zoom Communications Company 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.