Cresset Asset Management LLC Buys 19,026 Shares of Zoom Communications, Inc. $ZM

Cresset Asset Management LLC boosted its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 159.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,944 shares of the company’s stock after purchasing an additional 19,026 shares during the quarter. Cresset Asset Management LLC’s holdings in Zoom Communications were worth $2,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZM. Elevation Point Wealth Partners LLC acquired a new position in shares of Zoom Communications during the second quarter worth approximately $27,000. Root Financial Partners LLC acquired a new stake in Zoom Communications in the 3rd quarter valued at $33,000. Quent Capital LLC acquired a new stake in Zoom Communications in the 3rd quarter valued at $34,000. Cloud Capital Management LLC bought a new stake in Zoom Communications during the 3rd quarter valued at $42,000. Finally, SJS Investment Consulting Inc. increased its stake in Zoom Communications by 2,957.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 581 shares of the company’s stock valued at $48,000 after purchasing an additional 562 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Insider Activity at Zoom Communications

In other Zoom Communications news, CFO Michelle Chang sold 8,417 shares of Zoom Communications stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $86.54, for a total value of $728,407.18. Following the sale, the chief financial officer owned 25,482 shares of the company’s stock, valued at approximately $2,205,212.28. The trade was a 24.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 7,568 shares of the stock in a transaction that occurred on 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 directly owned 136,182 shares of the company’s stock, valued at $11,786,552.10. This represents a 5.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 183,089 shares of company stock valued at $15,730,024 in the last 90 days. 11.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of analyst reports. KeyCorp lifted their price objective on shares of Zoom Communications from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Thursday, February 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Zoom Communications in a research report on Tuesday, November 25th. JPMorgan Chase & Co. lifted their price target on Zoom Communications from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 25th. Citigroup raised Zoom Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $94.00 to $106.00 in a report on Monday, January 12th. Finally, Wall Street Zen downgraded Zoom Communications from a “buy” rating to a “hold” rating in a research note on Saturday. Fourteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zoom Communications has an average rating of “Hold” and a consensus target price of $95.32.

Zoom Communications Stock Up 0.2%

Shares of NASDAQ ZM opened at $77.50 on Friday. The company has a market capitalization of $22.95 billion, a PE ratio of 12.50, a PEG ratio of 4.42 and a beta of 0.93. The stock’s 50 day moving average price is $86.41 and its 200-day moving average price is $84.60. Zoom Communications, Inc. has a twelve month low of $64.41 and a twelve month 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). Zoom Communications had a net margin of 39.03% and a return on equity of 11.88%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business posted $1.41 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. 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. As a group, research analysts expect that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal 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.