Saudi Central Bank Acquires 7,396 Shares of Zoom Communications, Inc. $ZM

Saudi Central Bank raised its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 79.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,756 shares of the company’s stock after purchasing an additional 7,396 shares during the period. Saudi Central Bank’s holdings in Zoom Communications were worth $1,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. NewEdge Advisors LLC boosted its position 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 valued at $591,000 after buying an additional 1,153 shares during the last quarter. Intech Investment Management LLC raised its position in Zoom Communications by 59.1% in the 1st quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock worth $1,238,000 after buying an additional 6,235 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Zoom Communications by 82.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock valued at $65,000 after acquiring an additional 397 shares during the period. Sivia Capital Partners LLC bought a new position in Zoom Communications during the 2nd quarter valued at about $217,000. Finally, Invesco Ltd. boosted its holdings in shares of Zoom Communications by 7.0% during the 2nd quarter. Invesco Ltd. now owns 730,207 shares of the company’s stock valued at $56,942,000 after acquiring an additional 47,749 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ZM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $104.00 price target on shares of Zoom Communications in a research note on Monday, August 24th. Wells Fargo & Company raised their target price on shares of Zoom Communications from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, May 22nd. KeyCorp reiterated a “sector weight” rating on shares of Zoom Communications in a research note on Wednesday, August 26th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a report on Friday, August 21st. Finally, Robert W. Baird raised their price target on Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Sixteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.55.

Insider Buying and Selling

In other Zoom Communications news, CEO Eric Yuan sold 12,100 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $95.34, for a total value of $1,153,614.00. Following the completion of the sale, the chief executive officer owned 22,998 shares in the company, valued at $2,192,629.32. This represents a 34.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,644 shares of the firm’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $91.98, for a total value of $703,095.12. Following the completion of the transaction, the insider directly owned 148,403 shares in the company, valued at $13,650,107.94. This trade represents a 4.90% 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 sold a total of 50,881 shares of company stock valued at $4,878,914 in the last 90 days. 8.83% of the stock is owned by company insiders.

Zoom Communications Trading Down 4.8%

ZM opened at $96.44 on Wednesday. Zoom Communications, Inc. has a 1-year low of $70.70 and a 1-year high of $114.74. The company has a market capitalization of $28.14 billion, a PE ratio of 8.93, a PEG ratio of 4.69 and a beta of 1.04. The firm’s 50 day simple moving average is $96.39 and its two-hundred day simple moving average is $91.70.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company posted $1.53 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. 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. Equities analysts forecast that Zoom Communications, Inc. will post 4.26 earnings per share for the current fiscal year.

About Zoom Communications

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.