Allspring Global Investments Holdings LLC Has $13.25 Million Position in Zoom Communications, Inc. $ZM

Allspring Global Investments Holdings LLC raised its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 87.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 164,171 shares of the company’s stock after buying an additional 76,531 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Zoom Communications were worth $13,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ZM. Advocate Investing Services LLC bought a new position in Zoom Communications during the fourth quarter worth $26,000. Strive Financial Group LLC bought a new stake in Zoom Communications during the fourth quarter valued at $27,000. Toth Financial Advisory Corp bought a new stake in Zoom Communications during the fourth quarter valued at $28,000. Rexford Capital Inc. grew its holdings in Zoom Communications by 45.7% during the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after acquiring an additional 122 shares during the period. Finally, Sound Income Strategies LLC raised its position 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 acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the topic of several research analyst reports. HSBC upped their target price on Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Robert W. Baird increased their price target on Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Mizuho raised their price objective on shares of Zoom Communications from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Benchmark lifted their price objective on shares of Zoom Communications from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings downgraded shares of Zoom Communications from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.33.

Zoom Communications Stock Performance

Shares of Zoom Communications stock opened at $89.77 on Wednesday. The stock has a market capitalization of $26.32 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 4.87 and a beta of 1.01. Zoom Communications, Inc. has a 52 week low of $69.15 and a 52 week high of $114.74. The stock has a 50 day moving average price of $94.16 and a two-hundred day moving average price of $88.99.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (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 analysts’ expectations of $1.22 billion. During the same period last year, the business earned $1.43 EPS. Zoom Communications’s quarterly 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. Research analysts forecast that Zoom Communications, Inc. will post 4.21 EPS for the current year.

Insider Activity

In other news, Director Santiago Subotovsky sold 5,274 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $109.78, for a total transaction of $578,979.72. Following the completion of the sale, the director directly owned 137,608 shares of the company’s stock, valued at $15,106,606.24. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric S. Yuan sold 12,100 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $106.60, for a total transaction of $1,289,860.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,517 shares of company stock worth $5,061,783 over the last three months. 8.83% of the stock is currently owned by insiders.

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.