SEB Asset Management AB Takes $11.84 Million Position in Zoom Communications, Inc. $ZM

SEB Asset Management AB bought a new position in Zoom Communications, Inc. (NASDAQ:ZM) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 147,223 shares of the company’s stock, valued at approximately $11,835,000.

A number of other hedge funds have also added to or reduced their stakes in ZM. Swiss National Bank grew its position in shares of Zoom Communications by 7.0% during the 1st quarter. Swiss National Bank now owns 744,200 shares of the company’s stock valued at $59,826,000 after acquiring an additional 48,500 shares during the period. Watershed Asset Management L.L.C. raised its holdings in Zoom Communications by 15.9% in the 1st quarter. Watershed Asset Management L.L.C. now owns 6,019 shares of the company’s stock worth $484,000 after purchasing an additional 827 shares during the period. Assetmark Inc. raised its holdings in Zoom Communications by 38.4% in the 1st quarter. Assetmark Inc. now owns 1,758 shares of the company’s stock worth $141,000 after purchasing an additional 488 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Zoom Communications by 87.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 164,171 shares of the company’s stock valued at $13,249,000 after purchasing an additional 76,531 shares in the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Zoom Communications during the first quarter valued at $13,781,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Zoom Communications news, CEO Eric S. Yuan sold 12,100 shares of Zoom Communications stock in a transaction dated Monday, May 4th. The stock was 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, Director Santiago Subotovsky sold 5,274 shares of Zoom Communications stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $109.78, for a total transaction of $578,979.72. Following the completion of the transaction, the director directly owned 137,608 shares in the company, valued at approximately $15,106,606.24. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 48,517 shares of company stock worth $5,061,783. 8.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Zoom Communications in a report on Thursday, July 2nd. Morgan Stanley lifted their price objective on shares of Zoom Communications from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, May 22nd. Rosenblatt Securities boosted their target price on shares of Zoom Communications from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. HSBC upped their target price on shares of Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company raised their target price 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. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.33.

Zoom Communications Trading Down 0.2%

NASDAQ ZM opened at $90.91 on Tuesday. The stock has a market cap of $26.66 billion, a PE ratio of 13.35, a PEG ratio of 4.86 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 company’s 50-day moving average price is $94.42 and its 200-day moving average price is $88.97.

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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The company’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. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 4.23 earnings per share for the current year.

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.