GRIMES & Co WEALTH MANAGEMENT LLC Has $4.28 Million Stock Position in Zoom Communications, Inc. $ZM

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC cut its Zoom Communications stake by 71.6% in Q4, ending with 49,583 shares valued at about $4.28 million.
• Zoom’s stock has drawn mixed analyst sentiment: several firms recently adjusted price targets, and the overall consensus remains "Hold" with an average target price of $95.32.
• Zoom reported Q4 earnings of $1.44 per share, missing estimates, while revenue of $1.25 billion topped expectations; the company also disclosed recent insider sales by CEO Eric Yuan and Director Santiago Subotovsky.

GRIMES & Co WEALTH MANAGEMENT LLC decreased its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 71.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,583 shares of the company's stock after selling 124,775 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Zoom Communications were worth $4,279,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Zoom Communications by 10.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,753 shares of the company's stock worth $19,697,000 after acquiring an additional 22,704 shares during the period. Strive Asset Management LLC bought a new position in shares of Zoom Communications during the 3rd quarter worth about $1,238,000. LSV Asset Management lifted its holdings in shares of Zoom Communications by 5.0% during the 3rd quarter. LSV Asset Management now owns 1,069,440 shares of the company's stock worth $88,229,000 after acquiring an additional 50,579 shares during the period. Krilogy Financial LLC bought a new position in shares of Zoom Communications during the 3rd quarter worth about $1,963,000. Finally, Boston Common Asset Management LLC bought a new position in shares of Zoom Communications during the 4th quarter worth about $2,163,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ZM shares. Sanford C. Bernstein reduced their price objective on shares of Zoom Communications from $90.00 to $88.00 and set a "market perform" rating for the company in a 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 for the company in a report on Thursday, February 5th. Benchmark reduced their price objective on shares of Zoom Communications from $115.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, February 24th. Citigroup raised shares of Zoom Communications from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $94.00 to $106.00 in a report on Monday, January 12th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of Zoom Communications in a report on Tuesday, February 24th. Fourteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $95.32.

Zoom Communications Trading Up 0.8%

ZM opened at $109.21 on Friday. The stock has a market capitalization of $32.18 billion, a PE ratio of 17.61, a PEG ratio of 6.20 and a beta of 1.00. Zoom Communications, Inc. has a 1-year low of $69.15 and a 1-year high of $109.50. The firm has a 50-day moving average price of $83.24 and a two-hundred day moving average price of $85.37.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.04). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Zoom Communications had a net margin of 39.03% and a return on equity of 11.88%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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, research analysts predict that Zoom Communications, Inc. will post 3.94 EPS for the current year.

Insider Transactions at Zoom Communications

In other news, Director Santiago Subotovsky sold 5,274 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $106.58, for a total value of $562,102.92. Following the transaction, the director owned 142,882 shares of the company's stock, valued at approximately $15,228,363.56. This trade represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric S. Yuan sold 12,100 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $106.60, for a total transaction of $1,289,860.00. 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 144,329 shares of company stock worth $12,364,989. Corporate insiders own 11.51% of the company's stock.

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.

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