Bank of New York Mellon Corp Has $113.49 Million Holdings in Zoom Communications, Inc. $ZM

Bank of New York Mellon Corp grew its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 44.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,411,745 shares of the company’s stock after buying an additional 434,981 shares during the period. Bank of New York Mellon Corp’s holdings in Zoom Communications were worth $113,490,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Advocate Investing Services LLC acquired a new position in Zoom Communications during the 4th quarter worth approximately $26,000. Strive Financial Group LLC acquired a new position in shares of Zoom Communications during the fourth quarter worth approximately $27,000. Toth Financial Advisory Corp acquired a new position in shares of Zoom Communications during the fourth quarter worth approximately $28,000. Rexford Capital Inc. lifted its holdings in shares of Zoom Communications by 45.7% in the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after purchasing an additional 122 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Zoom Communications by 94.8% in the 4th quarter. Sound Income Strategies LLC now owns 411 shares of the company’s stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Communications Price Performance

NASDAQ ZM opened at $90.91 on Tuesday. The business’s fifty day moving average is $94.42 and its 200-day moving average is $88.97. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 4.86 and a beta of 1.01. Zoom Communications, Inc. has a one year low of $69.15 and a one year high of $114.74.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. 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. Research analysts expect that Zoom Communications, Inc. will post 4.23 EPS for the current fiscal year.

Insider Transactions at Zoom Communications

In other news, CEO Eric S. Yuan sold 12,100 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $106.60, for a total value of $1,289,860.00. The transaction was disclosed in a document filed with the SEC, which is available at 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 owned 35,452 shares of the company’s stock, valued at $3,219,041.60. This represents a 19.32% 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. In the last 90 days, insiders sold 48,517 shares of company stock worth $5,061,783. 8.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ZM shares. Robert W. Baird raised their price objective on shares of Zoom Communications from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Citigroup boosted their target price on shares of Zoom Communications from $122.00 to $126.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Mizuho upped their target price on shares of Zoom Communications from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Citizens Jmp reaffirmed a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company boosted their price objective on Zoom Communications from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Zoom Communications has an average rating of “Moderate Buy” and a consensus target price of $109.33.

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.