Victory Capital Management Inc. Sells 113,919 Shares of Zoom Communications, Inc. $ZM

Victory Capital Management Inc. cut its holdings in Zoom Communications, Inc. (NASDAQ:ZM) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,740,953 shares of the company’s stock after selling 113,919 shares during the quarter. Victory Capital Management Inc. owned approximately 0.58% of Zoom Communications worth $143,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZM. Elevation Point Wealth Partners LLC acquired a new stake in Zoom Communications in the second quarter worth about $27,000. Root Financial Partners LLC acquired a new stake in shares of Zoom Communications during the 3rd quarter worth approximately $33,000. Quent Capital LLC bought a new stake in shares of Zoom Communications during the third quarter worth approximately $34,000. Cloud Capital Management LLC bought a new stake in shares of Zoom Communications during the third quarter worth approximately $42,000. Finally, MAI Capital Management boosted its stake in Zoom Communications by 34.7% in the third quarter. MAI Capital Management now owns 579 shares of the company’s stock valued at $48,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Transactions at Zoom Communications

In other news, CEO Eric S. Yuan sold 73,378 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $87.29, for a total transaction of $6,405,165.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 7,568 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $86.55, for a total transaction of $655,010.40. Following the transaction, the insider owned 136,182 shares in the company, valued at $11,786,552.10. This represents a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 183,089 shares of company stock valued at $15,751,383. Insiders own 10.78% of the company’s stock.

Zoom Communications Price Performance

NASDAQ:ZM opened at $73.50 on Wednesday. The firm’s 50-day moving average price is $87.01 and its 200-day moving average price is $84.59. The company has a market capitalization of $21.76 billion, a PE ratio of 11.85, a P/E/G ratio of 4.15 and a beta of 0.93. Zoom Communications, Inc. has a 1-year low of $64.41 and a 1-year high of $97.58.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.04). The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Zoom Communications had a return on equity of 12.13% and a net margin of 39.03%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. 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. Equities analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analysts Set New Price Targets

ZM has been the subject of a number of analyst reports. BTIG Research decreased their price objective on shares of Zoom Communications from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Sanford C. Bernstein dropped their target price on Zoom Communications from $90.00 to $88.00 and set a “market perform” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Zoom Communications in a report on Tuesday, November 25th. Wedbush reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Communications in a research note on Tuesday, November 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price target on shares of Zoom Communications in a research report on Tuesday, November 25th. Fourteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.32.

Zoom Communications Company Profile

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.