Zoom Communications, Inc. $ZM Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Raises Position

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 14.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,074 shares of the company’s stock after buying an additional 28,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Zoom Communications were worth $20,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZM. Soltis Investment Advisors LLC lifted its holdings in Zoom Communications by 17.6% in the third quarter. Soltis Investment Advisors LLC now owns 3,097 shares of the company’s stock valued at $281,000 after acquiring an additional 464 shares during the period. Choreo LLC grew its stake in shares of Zoom Communications by 8.1% during the 3rd quarter. Choreo LLC now owns 7,374 shares of the company’s stock worth $669,000 after purchasing an additional 551 shares during the period. VestGen Advisors LLC acquired a new stake in shares of Zoom Communications during the 3rd quarter worth approximately $233,000. Oppenheimer & Co. Inc. grew its stake in shares of Zoom Communications by 39.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,566 shares of the company’s stock worth $868,000 after purchasing an additional 2,703 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Zoom Communications by 16.1% during the 3rd quarter. Signaturefd LLC now owns 5,595 shares of the company’s stock valued at $508,000 after purchasing an additional 775 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Communications Price Performance

Zoom Communications stock opened at $95.50 on Friday. The stock has a market capitalization of $27.86 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 4.26 and a beta of 1.03. The business has a 50 day simple moving average of $95.56 and a 200-day simple moving average of $91.90. Zoom Communications, Inc. has a 12 month low of $70.70 and a 12 month high of $114.74.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 EPS. 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 research analysts anticipate that Zoom Communications, Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ZM. KeyCorp reiterated a “sector weight” rating on shares of Zoom Communications in a research note on Wednesday, August 26th. Cantor Fitzgerald restated a “neutral” rating and set a $104.00 price target on shares of Zoom Communications in a research report on Wednesday, October 21st. Jefferies Financial Group dropped their price target on shares of Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. Morgan Stanley lifted their price objective on shares of Zoom Communications from $105.00 to $107.00 and gave the company an “equal weight” rating in a report on Wednesday, August 26th. Finally, Bank of America began coverage on shares of Zoom Communications in a research report on Wednesday, August 19th. They issued a “buy” rating and a $130.00 price objective for the company. Sixteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Zoom Communications presently has an average rating of “Moderate Buy” and a consensus target price of $114.48.

Insider Transactions at Zoom Communications

In related news, CFO Michelle Chang sold 10,156 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $101.93, for a total value of $1,035,201.08. Following the completion of the transaction, the chief financial officer directly owned 30,282 shares of the company’s stock, valued at approximately $3,086,644.26. This represents a 25.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Yuan sold 12,100 shares of Zoom Communications stock in a transaction on Monday, October 5th. The stock was sold at an average price of $93.74, for a total transaction of $1,134,254.00. Following the sale, the chief executive officer directly owned 22,998 shares in the company, valued at approximately $2,155,832.52. This trade represents a 34.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 88,856 shares of company stock valued at $8,725,094. Insiders own 8.83% of the company’s stock.

Zoom Communications Company Profile

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based collaboration and customer engagement solutions. Founded in 2011 and headquartered in San Jose, California, the company is best known for Zoom Meetings, its videoconferencing platform for online meetings, webinars and virtual events.

The company’s product portfolio also includes Zoom Phone, a cloud-based business phone service; Zoom Team Chat; Zoom Rooms for hybrid meeting spaces; Zoom Whiteboard; and Zoom Contact Center.