5,912 Zoom Communications, Inc. $ZM Shares Sold by North Dakota State Investment Board

North Dakota State Investment Board cut its position in Zoom Communications, Inc. (NASDAQ:ZM) by 31.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,031 shares of the company’s stock after selling 5,912 shares during the quarter. North Dakota State Investment Board’s holdings in Zoom Communications were worth $1,183,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ZM. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Zoom Communications by 133.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. V Square Quantitative Management LLC grew its position 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 purchasing an additional 253 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its position 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 purchasing an additional 400 shares during the last quarter. Elevation Wealth Partners LLC increased its stake 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 worth $43,000 after purchasing an additional 273 shares during the period. Finally, Fortitude Family Office LLC increased its stake in shares of Zoom Communications by 27.2% in the third quarter. Fortitude Family Office LLC now owns 533 shares of the company’s stock worth $48,000 after purchasing an additional 114 shares during the period. Institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Communications

In other news, Director Santiago Subotovsky sold 1,442 shares of Zoom Communications stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $100.14, for a total transaction of $144,401.88. Following the sale, the director owned 116,512 shares of the company’s stock, valued at approximately $11,667,511.68. This trade represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,645 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $99.26, for a total value of $758,842.70. Following the sale, the insider owned 151,813 shares in the company, valued at approximately $15,068,958.38. This represents a 4.79% decrease in their ownership of the stock. 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. Insiders have sold 88,856 shares of company stock worth $8,725,094 in the last three months. Company insiders own 8.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Sanford C. Bernstein restated a “market perform” rating and set a $108.00 target price on shares of Zoom Communications in a research note on Wednesday, August 26th. Citizens Jmp reaffirmed a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Weiss Ratings upgraded Zoom Communications from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America initiated coverage on Zoom Communications in a report on Wednesday, August 19th. They set a “buy” rating and a $130.00 price target for the company. Finally, Yorkville Ives started coverage on Zoom Communications in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $120.00 price objective for the company. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.48.

Zoom Communications Stock Performance

Shares of ZM opened at $95.50 on Friday. The company has a 50-day simple moving average of $95.56 and a 200-day simple moving average of $91.90. The firm has a market capitalization of $27.86 billion, a P/E ratio of 26.90, a P/E/G ratio of 4.36 and a beta of 1.03. Zoom Communications, Inc. has a 52 week low of $70.70 and a 52 week high of $114.74.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company earned $1.53 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. 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. As a group, equities analysts forecast that Zoom Communications, Inc. will post 4.24 earnings per share for the current year.

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.