Clearstead Advisors LLC Grows Stock Position in Zoom Communications, Inc. $ZM

Clearstead Advisors LLC lifted its position in Zoom Communications, Inc. (NASDAQ:ZM) by 6,074.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,090 shares of the company’s stock after acquiring an additional 178,157 shares during the period. Clearstead Advisors LLC owned 0.06% of Zoom Communications worth $14,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in Zoom Communications by 16.8% during the 1st quarter. NewEdge Advisors LLC now owns 8,009 shares of the company’s stock worth $591,000 after purchasing an additional 1,153 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Zoom Communications by 59.1% in the first quarter. Intech Investment Management LLC now owns 16,785 shares of the company’s stock worth $1,238,000 after buying an additional 6,235 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Zoom Communications by 82.0% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the company’s stock worth $65,000 after acquiring an additional 397 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Zoom Communications during the second quarter worth about $217,000. Finally, Cullen Frost Bankers Inc. grew its stake in Zoom Communications by 2,217.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 672 shares of the company’s stock valued at $52,000 after acquiring an additional 643 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Communications Price Performance

Shares of ZM opened at $90.29 on Monday. The firm has a 50-day simple moving average of $88.31 and a two-hundred day simple moving average of $84.20. The stock has a market cap of $26.73 billion, a PE ratio of 17.57, a P/E/G ratio of 8.08 and a beta of 0.90. Zoom Communications, Inc. has a 1-year low of $64.41 and a 1-year high of $97.58.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings data on Monday, November 24th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Zoom Communications had a net margin of 33.17% and a return on equity of 12.20%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the company posted $1.38 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZM. Wall Street Zen cut Zoom Communications from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. BTIG Research assumed coverage on Zoom Communications in a research note on Tuesday, December 16th. They issued a “buy” rating and a $105.00 target price for the company. Jefferies Financial Group boosted their price target on shares of Zoom Communications from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price objective on shares of Zoom Communications in a report on Tuesday, November 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Zoom Communications from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 25th. Fourteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.74.

Insider Activity at Zoom Communications

In related news, CFO Michelle Chang sold 8,417 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $86.54, for a total transaction of $728,407.18. Following the transaction, the chief financial officer owned 25,482 shares of the company’s stock, valued at approximately $2,205,212.28. This represents a 24.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 12,137 shares of Zoom Communications stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $81.37, for a total value of $987,587.69. Following the completion of the transaction, the chief operating officer directly owned 1,978 shares of the company’s stock, valued at approximately $160,949.86. This represents a 85.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 183,089 shares of company stock valued at $15,751,383 over the last ninety days. 10.78% of the stock is owned by insiders.

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.