Zoom Communications, Inc. $ZM Holdings Lifted by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 762.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,727 shares of the company’s stock after buying an additional 11,251 shares during the period. Fifth Third Bancorp’s holdings in Zoom Communications were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Advocate Investing Services LLC bought a new position in shares of Zoom Communications in the fourth quarter worth $26,000. Strive Financial Group LLC bought a new stake in shares of Zoom Communications during the fourth quarter valued at about $27,000. Toth Financial Advisory Corp acquired a new stake in Zoom Communications in the fourth quarter worth about $28,000. Rexford Capital Inc. lifted its holdings in Zoom Communications by 45.7% in the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after purchasing an additional 122 shares during the period. Finally, Sound Income Strategies LLC grew its position in Zoom Communications by 94.8% in the 4th quarter. Sound Income Strategies LLC now owns 411 shares of the company’s stock valued at $33,000 after buying an additional 200 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Trading Up 4.6%

NASDAQ:ZM opened at $87.99 on Friday. The company has a 50-day moving average of $93.30 and a 200-day moving average of $88.99. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 4.72 and a beta of 1.01. Zoom Communications, Inc. has a twelve month low of $69.15 and a twelve month high of $114.74.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. 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, research analysts forecast that Zoom Communications, Inc. will post 4.21 earnings per share for the current year.

Wall Street Analyst Weigh In

ZM has been the topic of several research analyst reports. Citigroup raised their target price on shares of Zoom Communications from $122.00 to $126.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. HSBC increased their price objective on shares of Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Citizens Jmp reiterated a “market perform” rating on shares of Zoom Communications in a research note on Wednesday, May 20th. Cantor Fitzgerald boosted their target price on Zoom Communications from $87.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, May 22nd. Finally, Mizuho boosted their target price on Zoom Communications from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Zoom Communications has a consensus rating of “Moderate Buy” and a consensus price target of $109.33.

Insider Buying and Selling at Zoom Communications

In related news, Director Santiago Subotovsky sold 5,274 shares of Zoom Communications stock in a transaction on Monday, June 1st. The stock was sold at an average price of $109.78, for a total value of $578,979.72. Following the transaction, the director directly owned 137,608 shares in the company, valued at $15,106,606.24. The trade was a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $106.60, for a total value of $1,289,860.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 48,517 shares of company stock valued at $5,061,783. Corporate insiders own 8.83% of the company’s stock.

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.