Corient Private Wealth LP Has $6.88 Million Stock Holdings in Zoom Communications, Inc. $ZM

Key Points

• Corient Private Wealth increased its Zoom Communications stake by 17.1% in the second quarter, bringing its holdings to 79,755 shares valued at approximately $6.88 million. Institutional investors collectively own 66.54% of Zoom.
• Zoom’s latest quarterly results exceeded expectations, with adjusted EPS of $1.55 versus the $1.48 consensus estimate and revenue of $1.28 billion, up 4.9% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $113.62, compared with the stock’s reported price of $92.16.

Corient Private Wealth LP grew its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,755 shares of the company's stock after purchasing an additional 11,675 shares during the period. Corient Private Wealth LP's holdings in Zoom Communications were worth $6,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Zoom Communications in the 4th quarter valued at approximately $509,788,000. Atreides Management LP purchased a new position in Zoom Communications during the 1st quarter worth approximately $105,761,000. Rubric Capital Management LP acquired a new stake in Zoom Communications during the 1st quarter valued at $80,471,000. Bank of America Corp DE raised its stake in Zoom Communications by 50.5% during the 1st quarter. Bank of America Corp DE now owns 1,767,728 shares of the company's stock valued at $142,108,000 after purchasing an additional 592,899 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Zoom Communications by 69.1% in the first quarter. KBC Group NV now owns 1,193,027 shares of the company's stock valued at $95,907,000 after purchasing an additional 487,384 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Communications Stock Up 0.2%

NASDAQ ZM opened at $92.16 on Friday. The stock has a market capitalization of $26.89 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 4.27 and a beta of 1.04. Zoom Communications, Inc. has a 12-month low of $70.70 and a 12-month high of $114.74. The company has a 50 day moving average price of $97.33 and a two-hundred day moving average price of $92.19.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $1.53 EPS. Zoom Communications's quarterly revenue was up 4.9% on a year-over-year basis. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. As a group, equities analysts anticipate that Zoom Communications, Inc. will post 4.24 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric Yuan sold 12,100 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $95.34, for a total value of $1,153,614.00. Following the completion of the sale, the chief executive officer directly owned 22,998 shares in the company, valued at approximately $2,192,629.32. The trade was a 34.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the company's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $90.80, for a total value of $770,801.20. Following the sale, the chief financial officer directly owned 35,452 shares of the company's stock, valued at $3,219,041.60. The trade was a 19.32% 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. In the last 90 days, insiders have sold 56,108 shares of company stock worth $5,381,876. Insiders own 8.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on ZM shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 target price on shares of Zoom Communications in a research report on Friday, August 21st. BTIG Research reissued a "buy" rating and set a $125.00 price target on shares of Zoom Communications in a research report on Monday, August 24th. HSBC increased their price objective on Zoom Communications from $107.00 to $133.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Jefferies Financial Group decreased their price objective on Zoom Communications from $118.00 to $116.00 and set a "buy" rating for the company in a research report on Wednesday, August 26th. Finally, Benchmark lifted their target price on Zoom Communications from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.62.

Zoom Communications Profile

Zoom Communications, Inc NASDAQ: ZM is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.

Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.

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