Zoom Communications, Inc. (NASDAQ:ZM) Stock Holdings Boosted by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 18.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,049 shares of the company's stock after purchasing an additional 20,725 shares during the period. Cerity Partners LLC's holdings in Zoom Communications were worth $9,815,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ZM. Wayfinding Financial LLC purchased a new stake in shares of Zoom Communications in the 1st quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Zoom Communications by 177.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 246 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Communications in the 4th quarter valued at approximately $30,000. Colonial Trust Co SC purchased a new stake in shares of Zoom Communications in the 4th quarter valued at approximately $32,000. Finally, Cloud Capital Management LLC purchased a new stake in shares of Zoom Communications in the 1st quarter valued at approximately $42,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ZM. Needham & Company LLC upgraded shares of Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective for the company in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target 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. Wells Fargo & Company boosted their price target on shares of Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. Finally, Piper Sandler boosted their price target on shares of Zoom Communications from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $87.00.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 7,661 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $77.50, for a total transaction of $593,727.50. Following the transaction, the insider directly owned 129,377 shares of the company's stock, valued at approximately $10,026,717.50. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the transaction, the director directly owned 5,875 shares in the company, valued at approximately $439,802.50. The trade was a 80.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,492 shares of company stock valued at $6,991,392 over the last quarter. 11.51% of the stock is owned by insiders.

Zoom Communications Trading Down 0.4%

Shares of NASDAQ ZM traded down $0.29 during midday trading on Wednesday, reaching $74.44. 3,259,117 shares of the stock were exchanged, compared to its average volume of 2,908,948. The company has a market capitalization of $22.52 billion, a P/E ratio of 22.35, a P/E/G ratio of 12.24 and a beta of 0.68. Zoom Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a 50 day moving average price of $79.04 and a 200-day moving average price of $78.25.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. Zoom Communications's revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

About Zoom Communications

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.