Ashton Thomas Private Wealth LLC Sells 36,851 Shares of Zoom Communications, Inc. $ZM

Key Points

• Ashton Thomas Private Wealth LLC cut its stake in Zoom by 50.2%, selling 36,851 shares and now holds 36,574 shares valued at about $3.156 million per its SEC filing.
• Insiders have been net sellers — Director Santiago Subotovsky sold 2,643 shares and CFO Michelle Chang sold 8,489 shares (to cover tax withholding); insiders sold 138,887 shares worth $11.59 million over the last 90 days, and currently own 10.78% while institutions own 66.54%.
• Zoom's latest quarter missed EPS ($1.44 vs. $1.48) but beat revenue ($1.25B vs. $1.23B), and analysts hold a consensus "Hold" rating with an average price target of $95.32.

Ashton Thomas Private Wealth LLC lowered its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 50.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,574 shares of the company's stock after selling 36,851 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Zoom Communications were worth $3,156,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Zoom Communications by 10.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,753 shares of the company's stock valued at $19,697,000 after acquiring an additional 22,704 shares during the last quarter. Strive Asset Management LLC bought a new stake in Zoom Communications during the third quarter valued at $1,238,000. LSV Asset Management boosted its position in Zoom Communications by 5.0% during the third quarter. LSV Asset Management now owns 1,069,440 shares of the company's stock valued at $88,229,000 after acquiring an additional 50,579 shares during the last quarter. Krilogy Financial LLC bought a new stake in Zoom Communications during the third quarter valued at $1,963,000. Finally, Boston Common Asset Management LLC bought a new stake in Zoom Communications during the fourth quarter valued at $2,163,000. Institutional investors own 66.54% of the company's stock.

Insider Activity at Zoom Communications

In related news, Director Santiago Subotovsky sold 2,643 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $87.32, for a total value of $230,786.76. Following the transaction, the director owned 150,799 shares of the company's stock, valued at approximately $13,167,768.68. This trade represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 30,467 shares in the company, valued at approximately $2,477,576.44. The trade was a 21.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 138,887 shares of company stock worth $11,590,330. 10.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ZM. Sanford C. Bernstein cut their price target on shares of Zoom Communications from $90.00 to $88.00 and set a "market perform" rating on the stock in a research report on Thursday, February 26th. Zacks Research cut shares of Zoom Communications from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 13th. KeyCorp increased their price objective on shares of Zoom Communications from $69.00 to $74.00 and gave the stock an "underweight" rating in a research report on Thursday, February 26th. Wolfe Research raised shares of Zoom Communications from a "peer perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a research report on Thursday, February 5th. Finally, BTIG Research cut their price objective on shares of Zoom Communications from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Fourteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $95.32.

Zoom Communications Price Performance

ZM stock opened at $91.14 on Wednesday. The stock has a market capitalization of $26.86 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 5.20 and a beta of 0.88. The company's 50-day moving average is $81.85 and its 200-day moving average is $84.54. Zoom Communications, Inc. has a 1 year low of $69.15 and a 1 year high of $97.58.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($0.04). The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Zoom Communications had a return on equity of 11.88% and a net margin of 39.03%.Zoom Communications's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. Zoom Communications has set its FY 2027 guidance at 5.770-5.810 EPS and its Q1 2027 guidance at 1.400-1.420 EPS. On average, analysts anticipate that Zoom Communications, Inc. will post 3.94 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.