Illinois Municipal Retirement Fund Has $22.86 Million Stake in Zoom Communications, Inc. $ZM

Illinois Municipal Retirement Fund reduced its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,921 shares of the company’s stock after selling 10,047 shares during the quarter. Illinois Municipal Retirement Fund owned 0.09% of Zoom Communications worth $22,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Zoom Communications in the 4th quarter worth about $509,788,000. AQR Capital Management LLC lifted its holdings in Zoom Communications by 23.4% during the 3rd quarter. AQR Capital Management LLC now owns 8,477,057 shares of the company’s stock valued at $699,357,000 after purchasing an additional 1,607,253 shares during the last quarter. Two Sigma Investments LP acquired a new position in Zoom Communications in the third quarter valued at about $86,709,000. Vanguard Group Inc. boosted its position in Zoom Communications by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company’s stock valued at $2,327,002,000 after buying an additional 1,029,623 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Zoom Communications by 46.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,645,846 shares of the company’s stock worth $218,282,000 after buying an additional 836,594 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZM. Needham & Company LLC raised their price objective on shares of Zoom Communications from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Citizens Jmp restated a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, May 20th. Wells Fargo & Company raised their price target on Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. KeyCorp upgraded Zoom Communications from an “underweight” rating to a “sector weight” rating in a research report on Friday, May 22nd. Finally, Zacks Research lowered Zoom Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Zoom Communications currently has a consensus rating of “Moderate Buy” and an average target price of $109.33.

Zoom Communications Trading Down 3.0%

Shares of ZM stock opened at $93.96 on Thursday. Zoom Communications, Inc. has a 1 year low of $69.15 and a 1 year high of $114.74. The firm’s 50 day moving average is $95.51 and its 200-day moving average is $88.57. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 5.37 and a beta of 1.01.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings results on Thursday, May 21st. The company reported $1.55 earnings per share for the quarter, beating 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business posted $1.43 earnings per share. Zoom Communications’s revenue for the quarter was up 5.5% compared to the same quarter last year. 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 forecast that Zoom Communications, Inc. will post 4.06 earnings per share for the current fiscal year.

Insider Transactions at Zoom Communications

In related news, COO Aparna Bawa sold 12,886 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $87.62, for a total value of $1,129,071.32. Following the transaction, the chief operating officer owned 1,978 shares in the company, valued at $173,312.36. This trade represents a 86.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,645 shares of Zoom Communications stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $85.44, for a total value of $653,188.80. Following the completion of the sale, the insider owned 141,971 shares of the company’s stock, valued at approximately $12,130,002.24. The trade was a 5.11% decrease in their ownership of the stock. 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 156,638 shares of company stock valued at $13,900,194 over the last quarter. Corporate insiders own 11.51% of the company’s stock.

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.