Corient Private Wealth LLC Increases Position in Zoom Communications, Inc. $ZM

Key Points

• Corient Private Wealth LLC increased its Zoom Communications stake by 32.4% in Q4, buying 17,875 additional shares to bring its total to 73,041 shares worth about $6.3 million.
• Zoom reported quarterly earnings that beat expectations, posting $1.55 EPS versus the $1.42 consensus and revenue of $1.24 billion, up 5.5% from a year earlier.
• Despite the solid results and generally positive analyst sentiment, Zoom shares fell 3.0% on Friday to $82.88, while insider selling continued, including CEO Eric S. Yuan’s June 2 sale under a Rule 10b5-1 plan.

Corient Private Wealth LLC lifted its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 32.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,041 shares of the company's stock after purchasing an additional 17,875 shares during the period. Corient Private Wealth LLC's holdings in Zoom Communications were worth $6,303,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Zoom Communications in the 4th quarter valued at approximately $509,788,000. AQR Capital Management LLC boosted its position in Zoom Communications by 43.9% during the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company's stock worth $1,052,328,000 after purchasing an additional 3,718,186 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Zoom Communications in the third quarter valued at $86,709,000. Vanguard Group Inc. increased its position in shares of Zoom Communications by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company's stock valued at $2,327,002,000 after buying an additional 1,029,623 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Zoom Communications by 46.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,645,846 shares of the company's stock valued at $218,282,000 after buying an additional 836,594 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZM has been the topic of several recent research reports. Citizens Jmp reiterated a "market perform" rating on shares of Zoom Communications in a research report on Wednesday, May 20th. Wall Street Zen downgraded shares of Zoom Communications from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Citigroup lifted their target price on shares of Zoom Communications from $122.00 to $126.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Piper Sandler upped their price target on shares of Zoom Communications from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, May 22nd. Finally, Needham & Company LLC increased their price target on shares of Zoom Communications from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $109.33.

Zoom Communications Stock Down 3.0%

Shares of NASDAQ:ZM opened at $82.88 on Friday. The company has a market capitalization of $24.30 billion, a P/E ratio of 12.17, a P/E/G ratio of 4.72 and a beta of 1.01. Zoom Communications, Inc. has a 52-week low of $69.15 and a 52-week high of $114.74. The stock's fifty day simple moving average is $96.85 and its 200-day simple moving average is $88.88.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.13. Zoom Communications had a return on equity of 11.87% and a net margin of 41.99%.The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter last year, the business posted $1.43 EPS. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. 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, sell-side analysts anticipate that Zoom Communications, Inc. will post 4.08 earnings per share for the current year.

Insider Activity

In related news, CEO Eric S. Yuan sold 12,100 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total transaction of $1,350,481.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,645 shares of Zoom Communications stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total transaction of $653,188.80. Following the completion of the sale, the insider directly owned 141,971 shares of the company's stock, valued at $12,130,002.24. The trade was a 5.11% 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. In the last ninety days, insiders have sold 156,638 shares of company stock valued at $13,900,194. 8.83% of the stock is owned by corporate insiders.

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.

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.