Zoom Communications, Inc. $ZM Holdings Boosted by Allstate Corp

Allstate Corp boosted its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 122.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,566 shares of the company’s stock after acquiring an additional 11,313 shares during the period. Allstate Corp’s holdings in Zoom Communications were worth $1,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in shares of Zoom Communications by 0.5% in the fourth quarter. New York State Teachers Retirement System now owns 24,263 shares of the company’s stock valued at $2,094,000 after purchasing an additional 123 shares during the period. MAI Capital Management increased its stake in shares of Zoom Communications by 34.7% in the third quarter. MAI Capital Management now owns 579 shares of the company’s stock valued at $48,000 after purchasing an additional 149 shares during the period. Harrington Investments INC increased its stake in shares of Zoom Communications by 1.1% in the fourth quarter. Harrington Investments INC now owns 16,174 shares of the company’s stock valued at $1,396,000 after purchasing an additional 169 shares during the period. Brookstone Capital Management increased its stake in shares of Zoom Communications by 2.2% in the fourth quarter. Brookstone Capital Management now owns 8,024 shares of the company’s stock valued at $692,000 after purchasing an additional 170 shares during the period. Finally, Moran Wealth Management LLC increased its stake in shares of Zoom Communications by 0.5% in the fourth quarter. Moran Wealth Management LLC now owns 36,232 shares of the company’s stock valued at $3,126,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Communications Stock Up 0.5%

Zoom Communications stock opened at $100.46 on Friday. The company’s fifty day simple moving average is $90.85 and its 200-day simple moving average is $87.25. Zoom Communications, Inc. has a 12 month low of $69.15 and a 12 month high of $113.73. The stock has a market cap of $29.60 billion, a P/E ratio of 14.75, a P/E/G ratio of 5.72 and a beta of 1.00.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.55 EPS 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 business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted $1.43 EPS. Zoom Communications’s revenue 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. On average, equities research analysts expect that Zoom Communications, Inc. will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Communications

In other news, Director Santiago Subotovsky sold 5,274 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $106.58, for a total transaction of $562,102.92. Following the transaction, the director directly owned 142,882 shares in the company, valued at $15,228,363.56. The trade was a 3.56% decrease in their position. 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, CFO Michelle Chang sold 8,489 shares of Zoom Communications stock in a transaction on Friday, April 10th. The shares were sold at an average price of $81.32, for a total transaction of $690,325.48. Following the completion of the sale, the chief financial officer directly owned 30,467 shares of the company’s stock, valued at approximately $2,477,576.44. The trade was a 21.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 144,329 shares of company stock worth $12,364,989 over the last 90 days. 11.51% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZM. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a research note on Wednesday, May 20th. Jefferies Financial Group raised their price objective on shares of Zoom Communications from $105.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Piper Sandler raised their price objective on shares of Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Wells Fargo & Company raised their price objective on shares of Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Finally, 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. Fourteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Zoom Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.15.

Zoom Communications 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.