VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 197,574 Zoom Communications, Inc. $ZM

by · The Markets Daily

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Zoom Communications, Inc. (NASDAQ:ZM – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 197,574 shares of the company’s stock, valued at approximately $17,053,000.

Several other large investors have also modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of Zoom Communications by 8,620.6% in the second quarter. California State Teachers Retirement System now owns 31,999,864 shares of the company’s stock worth $2,761,908,000 after acquiring an additional 31,632,917 shares during the last quarter. AQR Capital Management LLC increased its position in Zoom Communications by 43.9% during the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock worth $1,052,328,000 after purchasing an additional 3,718,186 shares during the last quarter. State Street Corp increased its position in Zoom Communications by 5.0% during the fourth quarter. State Street Corp now owns 7,582,924 shares of the company’s stock worth $654,331,000 after purchasing an additional 363,776 shares during the last quarter. Norges Bank purchased a new position in Zoom Communications during the fourth quarter worth approximately $509,788,000. Finally, Geode Capital Management LLC raised its stake in Zoom Communications by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company’s stock worth $445,254,000 after purchasing an additional 152,862 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZM has been the subject of several research reports. Mizuho boosted their price objective on shares of Zoom Communications from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of Zoom Communications in a research report on Wednesday, August 26th. HSBC lifted their target price on Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Bank of America began coverage on Zoom Communications in a research report on Wednesday, August 19th. They set a “buy” rating and a $130.00 price target for the company. Finally, Jefferies Financial Group dropped their price target on Zoom Communications from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.55.

Get Our Latest Research Report on Zoom Communications

Zoom Communications Price Performance

Shares of ZM stock opened at $101.33 on Tuesday. Zoom Communications, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $114.74. The firm’s 50 day moving average price is $96.18 and its two-hundred day moving average price is $91.66. The stock has a market cap of $29.57 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 4.69 and a beta of 1.04.

Zoom Communications (NASDAQ:ZM – Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Zoom Communications has set its FY 2027 guidance at 6.080-6.120 EPS and its Q3 2027 guidance at 1.460-1.480 EPS. On average, equities analysts forecast that Zoom Communications, Inc. will post 4.26 EPS for the current fiscal year.

Insider Buying and Selling at Zoom Communications

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,644 shares of the business’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $91.98, for a total transaction of $703,095.12. Following the transaction, the insider owned 148,403 shares in the company, valued at $13,650,107.94. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $90.80, for a total value of $770,801.20. Following the transaction, the chief financial officer owned 35,452 shares in the company, valued at approximately $3,219,041.60. This represents a 19.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 50,881 shares of company stock valued at $4,878,914 in the last quarter. Company insiders own 8.83% of the company’s stock.

Zoom Communications Profile

(Free Report)

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.

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