Zoom Communications, Inc. $ZM Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 366,947 shares of the company’s stock after selling 8,632 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Zoom Communications worth $29,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Zoom Communications during the 4th quarter worth about $509,788,000. AQR Capital Management LLC raised its position in shares of Zoom Communications by 43.9% in the fourth quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock valued at $1,052,328,000 after buying an additional 3,718,186 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Zoom Communications during the third quarter valued at approximately $86,709,000. Vanguard Group Inc. boosted its position in Zoom Communications by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock worth $2,327,002,000 after acquiring an additional 1,029,623 shares during the last quarter. Finally, Rubric Capital Management LP purchased a new stake in Zoom Communications in the 1st quarter worth approximately $80,471,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Communications Price Performance

NASDAQ ZM opened at $96.07 on Friday. Zoom Communications, Inc. has a 1-year low of $69.15 and a 1-year high of $114.74. The firm has a market capitalization of $28.17 billion, a P/E ratio of 14.11, a P/E/G ratio of 4.95 and a beta of 1.01. The business’s 50-day simple moving average is $92.61 and its 200-day simple moving average is $89.22.

Zoom Communications (NASDAQ:ZM) last posted its earnings results on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Zoom Communications has set its FY 2027 guidance at 5.960-6.000 EPS and its Q2 2027 guidance at 1.450-1.470 EPS. On average, equities research analysts expect that Zoom Communications, Inc. will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ZM. Morgan Stanley increased their price target on Zoom Communications from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a research note on Wednesday, May 20th. BTIG Research raised their price target on Zoom Communications from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price target on shares of Zoom Communications in a report on Thursday, July 23rd. Finally, Piper Sandler upped their price objective on shares of Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Zoom Communications has a consensus rating of “Moderate Buy” and an average price target of $109.33.

Insiders Place Their Bets

In related news, CFO Michelle Chang sold 8,489 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $90.80, for a total transaction of $770,801.20. Following the completion of the sale, the chief financial officer directly owned 35,452 shares of the company’s stock, valued at approximately $3,219,041.60. This represents a 19.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, Director Santiago Subotovsky sold 2,637 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $90.15, for a total value of $237,725.55. Following the completion of the sale, the director directly owned 138,554 shares of the company’s stock, valued at $12,490,643.10. The trade was a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,874 shares of company stock worth $4,789,950 over the last ninety days. 8.83% of the stock is owned by company 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.