Clear Perspective Advisors LLC Acquires New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Clear Perspective Advisors LLC purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 620 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Zoom Video Communications by 19.1% during the first quarter. Principal Financial Group Inc. now owns 15,417 shares of the company’s stock valued at $4,954,000 after acquiring an additional 2,474 shares during the period. E Fund Management Co. Ltd. bought a new stake in shares of Zoom Video Communications in the 1st quarter valued at approximately $661,000. Quilter Plc grew its stake in shares of Zoom Video Communications by 189.4% in the 1st quarter. Quilter Plc now owns 4,488 shares of the company’s stock valued at $1,442,000 after purchasing an additional 2,937 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Zoom Video Communications by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 465,742 shares of the company’s stock valued at $149,639,000 after purchasing an additional 32,516 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Zoom Video Communications by 87.3% in the 1st quarter. Prudential Financial Inc. now owns 44,845 shares of the company’s stock valued at $14,409,000 after purchasing an additional 20,897 shares during the period. Institutional investors and hedge funds own 46.87% of the company’s stock.

In other news, Director Santiago Subotovsky sold 7,700 shares of Zoom Video Communications stock in a transaction on Thursday, July 22nd. The shares were sold at an average price of $362.09, for a total transaction of $2,788,093.00. Following the transaction, the director now owns 188,543 shares in the company, valued at $68,269,534.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 2,354 shares of the business’s stock in a transaction on Tuesday, October 12th. The shares were sold at an average price of $255.27, for a total transaction of $600,905.58. The disclosure for this sale can be found here. Insiders sold 179,554 shares of company stock worth $61,568,029 in the last 90 days. Company insiders own 12.27% of the company’s stock.

Shares of ZM traded up $2.02 during mid-day trading on Thursday, hitting $268.26. 88,288 shares of the company’s stock were exchanged, compared to its average volume of 4,250,414. The stock’s 50-day simple moving average is $304.21 and its 200-day simple moving average is $329.88. The firm has a market cap of $79.71 billion, a price-to-earnings ratio of 80.44, a price-to-earnings-growth ratio of 5.49 and a beta of -1.53. Zoom Video Communications, Inc. has a 52 week low of $250.11 and a 52 week high of $588.84.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Sunday, August 29th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.20. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.27 million. Zoom Video Communications had a net margin of 27.58% and a return on equity of 29.83%. The firm’s quarterly revenue was up 54.0% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Sell-side analysts forecast that Zoom Video Communications, Inc. will post 3.3 earnings per share for the current year.

Several research analysts have recently commented on the company. Robert W. Baird reissued a “buy” rating and issued a $380.00 target price on shares of Zoom Video Communications in a report on Tuesday, September 14th. Benchmark initiated coverage on Zoom Video Communications in a report on Thursday, July 15th. They set a “hold” rating and a $360.61 price objective on the stock. Piper Sandler reduced their price objective on Zoom Video Communications from $464.00 to $369.00 and set an “overweight” rating on the stock in a report on Tuesday, August 31st. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $350.00 to $300.00 and set a “hold” rating for the company in a research report on Monday. Finally, Wolfe Research restated a “buy” rating and issued a $375.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, September 14th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $397.83.

Zoom Video Communications Profile

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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