Westpac Banking Corp Sells 16,711 Shares of Zoom Communications, Inc. $ZM

Westpac Banking Corp decreased its position in Zoom Communications, Inc. (NASDAQ:ZM) by 68.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,550 shares of the company’s stock after selling 16,711 shares during the period. Westpac Banking Corp’s holdings in Zoom Communications were worth $607,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH increased its position in shares of Zoom Communications by 15.6% during the fourth quarter. Allianz Asset Management GmbH now owns 2,112,815 shares of the company’s stock worth $182,315,000 after purchasing an additional 285,626 shares in the last quarter. Hsbc Holdings PLC grew its stake in Zoom Communications by 43.6% during the 4th quarter. Hsbc Holdings PLC now owns 422,470 shares of the company’s stock worth $36,460,000 after buying an additional 128,174 shares during the last quarter. Sherry Group Inc. purchased a new position in Zoom Communications during the 4th quarter worth $894,000. Boston Common Asset Management LLC acquired a new position in Zoom Communications during the 4th quarter valued at about $2,163,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Zoom Communications during the 4th quarter valued at about $13,312,000. Institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a report on Wednesday, May 20th. Wells Fargo & Company upped their price objective on shares of Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. Jefferies Financial Group increased their price objective on shares of Zoom Communications from $105.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Zoom Communications in a research note on Thursday, July 2nd. Finally, BTIG Research boosted their target price on shares of Zoom Communications from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Zoom Communications presently has a consensus rating of “Moderate Buy” and an average price target of $109.33.

Zoom Communications Stock Performance

Zoom Communications stock opened at $84.11 on Friday. The business’s 50-day simple moving average is $93.55 and its two-hundred day simple moving average is $88.99. The company has a market cap of $24.66 billion, a PE ratio of 12.35, a PEG ratio of 4.60 and a beta of 1.01. Zoom Communications, Inc. has a fifty-two week low of $69.15 and a fifty-two week high of $114.74.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings data on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.13. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business posted $1.43 earnings per share. The company’s revenue for the quarter 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. As a group, analysts predict that Zoom Communications, Inc. will post 4.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Santiago Subotovsky sold 2,637 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $90.15, for a total transaction of $237,725.55. Following the completion of the transaction, the director directly owned 138,554 shares in the company, valued at $12,490,643.10. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 on 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 have sold 48,517 shares of company stock valued at $5,061,783 in the last ninety days. Insiders own 8.83% of the company’s stock.

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.