Summit Global Investments Has $312,000 Position in Zoom Communications, Inc. $ZM

Summit Global Investments lessened its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 78.4% in the first quarter, Holdings Channel.com reports. The fund owned 3,878 shares of the company’s stock after selling 14,058 shares during the quarter. Summit Global Investments’ holdings in Zoom Communications were worth $312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of Zoom Communications by 16.8% during the first quarter. NewEdge Advisors LLC now owns 8,009 shares of the company’s stock worth $591,000 after purchasing an additional 1,153 shares during the period. Intech Investment Management LLC increased its holdings in Zoom Communications by 59.1% in the first quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock valued at $1,238,000 after purchasing an additional 6,235 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Zoom Communications by 82.0% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock valued at $65,000 after buying an additional 397 shares during the period. Sivia Capital Partners LLC acquired a new position in Zoom Communications in the second quarter valued at about $217,000. Finally, Invesco Ltd. boosted its holdings in Zoom Communications by 7.0% during the second quarter. Invesco Ltd. now owns 730,207 shares of the company’s stock worth $56,942,000 after buying an additional 47,749 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of several analyst reports. Benchmark boosted their target price on Zoom Communications from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Mizuho increased their price target on shares of Zoom Communications from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Robert W. Baird lifted their price objective on shares of Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Royal Bank Of Canada restated an “outperform” rating and set a $130.00 price objective on shares of Zoom Communications in a report on Tuesday, June 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Zoom Communications in a research note on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.33.

Zoom Communications Trading Down 2.0%

NASDAQ:ZM opened at $84.11 on Friday. Zoom Communications, Inc. has a 1 year low of $69.15 and a 1 year high of $114.74. The stock has a 50-day moving average price of $93.55 and a two-hundred day moving average price of $88.99. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 4.60 and a beta of 1.01.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $1.43 earnings per share. Zoom Communications’s 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. Sell-side analysts forecast that Zoom Communications, Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric S. Yuan sold 12,100 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total transaction of $1,350,481.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $770,801.20. Following the completion of the transaction, the chief financial officer directly owned 35,452 shares in the company, valued at approximately $3,219,041.60. The trade was a 19.32% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 48,517 shares of company stock valued at $5,061,783. 8.83% of the stock is owned by corporate insiders.

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.