Zoom Communications, Inc. $ZM Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC significantly reduced its stake in Zoom Communications, decreasing by 82%, resulting in ownership of only 8,829 shares valued at approximately $651,000.
• Several institutional investors, including Vanguard Group Inc. and T. Rowe Price Investment Management Inc., increased their holdings in Zoom Communications during the first quarter, indicating continued institutional interest.
• Analysts have mixed views on Zoom's stock; while Wedbush has set a target price of $95.00 and maintained an "outperform" rating, Stifel Nicolaus lowered its price objective to $80.00, categorizing it as a "hold."

Integrated Wealth Concepts LLC lowered its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 82.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,829 shares of the company's stock after selling 40,242 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Zoom Communications were worth $651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Zoom Communications by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,796,654 shares of the company's stock worth $1,829,249,000 after purchasing an additional 624,863 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Zoom Communications by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,421,733 shares of the company's stock valued at $473,732,000 after purchasing an additional 36,210 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Zoom Communications by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,174,025 shares of the company's stock valued at $340,642,000 after purchasing an additional 87,775 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Zoom Communications by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,679,499 shares of the company's stock valued at $123,912,000 after purchasing an additional 16,819 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Zoom Communications by 119.5% during the first quarter. Victory Capital Management Inc. now owns 1,405,311 shares of the company's stock valued at $103,670,000 after buying an additional 765,092 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ZM. Wedbush reaffirmed an "outperform" rating and set a $95.00 target price on shares of Zoom Communications in a research note on Friday, August 22nd. Stifel Nicolaus reduced their price objective on shares of Zoom Communications from $85.00 to $80.00 and set a "hold" rating for the company in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Zoom Communications from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. JPMorgan Chase & Co. raised their target price on shares of Zoom Communications from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $90.30.

Zoom Communications Price Performance

Shares of ZM opened at $83.98 on Friday. Zoom Communications, Inc. has a one year low of $64.41 and a one year high of $92.80. The company has a 50-day moving average of $76.60 and a two-hundred day moving average of $76.57. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 11.93 and a beta of 0.57.

Insider Transactions at Zoom Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $77.17, for a total value of $190,995.75. Following the completion of the sale, the director owned 157,235 shares of the company's stock, valued at $12,133,824.95. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Aparna Bawa sold 10,528 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.78, for a total value of $787,283.84. Following the completion of the sale, the chief operating officer directly owned 1,978 shares of the company's stock, valued at approximately $147,914.84. This trade represents a 84.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,400 shares of company stock worth $6,871,114. 11.51% of the stock is currently owned by insiders.

Zoom Communications Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

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