State of Wyoming Buys 5,775 Shares of Zoom Communications, Inc. $ZM

State of Wyoming increased its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 805.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,492 shares of the company’s stock after buying an additional 5,775 shares during the quarter. State of Wyoming’s holdings in Zoom Communications were worth $589,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Zoom Communications by 133.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Zoom Communications by 100.4% in the first quarter. V Square Quantitative Management LLC now owns 505 shares of the company’s stock valued at $41,000 after buying an additional 253 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Zoom Communications by 400.0% in the second quarter. Strategic Investment Solutions Inc. IL now owns 500 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of Zoom Communications by 133.8% in the third quarter. Elevation Wealth Partners LLC now owns 477 shares of the company’s stock valued at $43,000 after buying an additional 273 shares during the period. Finally, Fortitude Family Office LLC boosted its stake in Zoom Communications by 27.2% during the third quarter. Fortitude Family Office LLC now owns 533 shares of the company’s stock valued at $48,000 after buying an additional 114 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $99.26, for a total transaction of $758,842.70. Following the completion of the sale, the insider directly owned 151,813 shares of the company’s stock, valued at $15,068,958.38. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, CFO Michelle Chang sold 10,156 shares of Zoom Communications stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $101.93, for a total transaction of $1,035,201.08. Following the completion of the sale, the chief financial officer directly owned 30,282 shares of the company’s stock, valued at approximately $3,086,644.26. The trade was a 25.11% 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. Insiders have sold 88,856 shares of company stock worth $8,725,094 in the last quarter. Corporate insiders own 8.83% of the company’s stock.

Zoom Communications Stock Performance

NASDAQ ZM opened at $95.50 on Monday. The stock’s 50-day moving average price is $95.56 and its two-hundred day moving average price is $91.90. The company has a market cap of $27.86 billion, a PE ratio of 8.84, a PEG ratio of 4.26 and a beta of 1.02. Zoom Communications, Inc. has a 1 year low of $70.70 and a 1 year high of $114.74.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Zoom Communications in a report on Wednesday, August 26th. Morgan Stanley upped their price target on shares of Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, August 26th. Jefferies Financial Group reduced their price objective on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. Sanford C. Bernstein restated a “market perform” rating and set a $108.00 price objective on shares of Zoom Communications in a research report on Wednesday, August 26th. Finally, Bank of America initiated coverage on shares of Zoom Communications in a research note on Wednesday, August 19th. They issued a “buy” rating and a $130.00 price objective on the stock. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Zoom Communications has an average rating of “Moderate Buy” and an average target price of $114.48.

About Zoom Communications

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.