Jackson Thornton Wealth Management LLC Sells 6,125 Shares of Zoom Communications, Inc. $ZM

Jackson Thornton Wealth Management LLC reduced its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 59.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,165 shares of the company’s stock after selling 6,125 shares during the quarter. Jackson Thornton Wealth Management LLC’s holdings in Zoom Communications were worth $330,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Zoom Communications in the 4th quarter worth $509,788,000. AQR Capital Management LLC boosted its position in shares of Zoom Communications by 43.9% during the 4th quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock valued at $1,052,328,000 after acquiring an additional 3,718,186 shares in the last quarter. Two Sigma Investments LP bought a new stake in Zoom Communications in the third quarter valued at about $86,709,000. Vanguard Group Inc. increased its stake in 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 acquiring an additional 1,029,623 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Zoom Communications by 46.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,645,846 shares of the company’s stock worth $218,282,000 after purchasing an additional 836,594 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Transactions at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,645 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total value of $653,188.80. Following the completion of the sale, the insider directly owned 141,971 shares in the company, valued at approximately $12,130,002.24. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 Zoom Communications stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $81.32, for a total value of $690,325.48. Following the completion of the transaction, the chief financial officer directly owned 30,467 shares of the company’s stock, valued at $2,477,576.44. This represents a 21.79% decrease in their ownership of the stock. 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 quarter, insiders have sold 159,275 shares of company stock worth $14,137,919. 8.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZM shares. Weiss Ratings downgraded Zoom Communications from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Zoom Communications in a report on Tuesday, June 30th. Benchmark raised their target price on Zoom Communications from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. KeyCorp raised Zoom Communications from an “underweight” rating to a “sector weight” rating in a research note on Friday, May 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Zoom Communications in a research note on Thursday, July 2nd. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.33.

Zoom Communications Trading Up 2.0%

NASDAQ ZM opened at $87.40 on Thursday. The firm has a market cap of $25.63 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 4.73 and a beta of 1.01. The company has a 50 day moving average of $96.28 and a 200-day moving average of $88.77. Zoom Communications, Inc. has a 1-year low of $69.15 and a 1-year high of $114.74.

Zoom Communications (NASDAQ:ZM) last posted its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.13. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. Zoom Communications’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. 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, analysts forecast that Zoom Communications, Inc. will post 4.08 earnings per share for the current year.

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.