Integrated Wealth Concepts LLC Lowers Position in Zoom Communications, Inc. $ZM

Integrated Wealth Concepts LLC cut its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 27.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,842 shares of the company's stock after selling 19,963 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Zoom Communications were worth $4,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in Zoom Communications by 8,620.6% during the second quarter. California State Teachers Retirement System now owns 31,999,864 shares of the company's stock valued at $2,761,908,000 after buying an additional 31,632,917 shares during the period. Norges Bank bought a new position in shares of Zoom Communications in the 4th quarter worth about $509,788,000. AQR Capital Management LLC increased its stake in shares of Zoom Communications by 43.9% in the 4th quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company's stock worth $1,052,328,000 after acquiring an additional 3,718,186 shares in the last quarter. Atreides Management LP purchased a new position in Zoom Communications during the 1st quarter valued at about $105,761,000. Finally, Two Sigma Investments LP purchased a new position in Zoom Communications during the 3rd quarter valued at about $86,709,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Zoom Communications from $118.00 to $116.00 and set a "buy" rating for the company in a research note on Wednesday, August 26th. Weiss Ratings upgraded Zoom Communications from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 27th. UBS Group raised their price objective on Zoom Communications from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, August 20th. Bank of America initiated coverage on Zoom Communications in a research note on Wednesday, August 19th. They set a "buy" rating and a $130.00 price objective for the company. Finally, BTIG Research reissued a "buy" rating and issued a $125.00 target price on shares of Zoom Communications in a research note on Monday, August 24th. Sixteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $112.55.

Insider Activity at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 2,590 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $95.81, for a total value of $248,147.90. Following the transaction, the insider directly owned 149,265 shares in the company, valued at $14,301,079.65. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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. Also, CEO Eric Yuan sold 12,100 shares of Zoom Communications stock in a transaction 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 of the company's stock, valued at $2,192,629.32. The trade was a 34.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 56,108 shares of company stock valued at $5,381,876. Insiders own 8.83% of the company's stock.

Zoom Communications Price Performance

ZM stock opened at $95.57 on Friday. The stock has a market capitalization of $27.89 billion, a P/E ratio of 8.85, a P/E/G ratio of 4.42 and a beta of 1.04. Zoom Communications, Inc. has a 1-year low of $70.70 and a 1-year high of $114.74. The business has a fifty day moving average price of $96.84 and a 200-day moving average price of $91.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data 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 return on equity of 10.86% and a net margin of 65.19%.The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned $1.53 EPS. Zoom Communications's revenue for the quarter 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, analysts anticipate that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.

Zoom Communications Company 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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