Allspring Global Investments Holdings LLC Acquires 76,531 Shares of Zoom Communications, Inc. $ZM

Allspring Global Investments Holdings LLC boosted its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 87.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,171 shares of the company’s stock after buying an additional 76,531 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Zoom Communications worth $13,249,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kestra Advisory Services LLC raised its holdings in Zoom Communications by 2.0% in the 4th quarter. Kestra Advisory Services LLC now owns 5,928 shares of the company’s stock valued at $512,000 after acquiring an additional 116 shares during the period. 3Chopt Investment Partners LLC boosted its stake in Zoom Communications by 1.6% in the 1st quarter. 3Chopt Investment Partners LLC now owns 7,370 shares of the company’s stock valued at $592,000 after purchasing an additional 119 shares during the period. Rexford Capital Inc. grew its holdings in Zoom Communications by 45.7% in the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after buying an additional 122 shares in the last quarter. New York State Teachers Retirement System increased its position in Zoom Communications by 0.5% during the 4th quarter. New York State Teachers Retirement System now owns 24,263 shares of the company’s stock worth $2,094,000 after buying an additional 123 shares during the period. Finally, Root Financial Partners LLC lifted its holdings in shares of Zoom Communications by 33.5% during the fourth quarter. Root Financial Partners LLC now owns 542 shares of the company’s stock worth $47,000 after buying an additional 136 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Communications Stock Down 1.3%

Zoom Communications stock opened at $89.77 on Wednesday. The stock has a market cap of $26.32 billion, a PE ratio of 13.18, a P/E/G ratio of 4.87 and a beta of 1.01. Zoom Communications, Inc. has a 12-month low of $69.15 and a 12-month high of $114.74. The business’s 50-day moving average price is $94.16 and its two-hundred day moving average price is $88.99.

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

Insider Activity at Zoom Communications

In other news, CFO Michelle Chang sold 8,489 shares of Zoom Communications stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $90.80, for a total transaction of $770,801.20. Following the sale, the chief financial officer directly owned 35,452 shares of the company’s stock, valued at approximately $3,219,041.60. This trade represents a 19.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Also, Director Santiago Subotovsky sold 2,637 shares of Zoom Communications stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $90.15, for a total value of $237,725.55. Following the sale, the director directly owned 138,554 shares in the company, valued at $12,490,643.10. The trade was a 1.87% decrease in their ownership of the stock. 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 have sold a total of 48,517 shares of company stock valued at $5,061,783 in the last 90 days. 8.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ZM has been the topic of a number of recent research reports. BTIG Research raised their price target on shares of Zoom Communications from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. KeyCorp upgraded shares of Zoom Communications from an “underweight” rating to a “sector weight” rating in a research report on Friday, May 22nd. Morgan Stanley increased their price target on Zoom Communications from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Cantor Fitzgerald lifted their price objective on Zoom Communications from $87.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, Piper Sandler upped their target price on Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Zoom Communications presently has an average rating of “Moderate Buy” and a consensus target price of $109.33.

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.