California State Teachers Retirement System Has $32 Million Holdings in Zoom Communications, Inc. $ZM

California State Teachers Retirement System lifted its position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 370,755 shares of the company's stock after purchasing an additional 3,808 shares during the period. California State Teachers Retirement System owned 0.13% of Zoom Communications worth $31,999,864 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Zoom Communications in the fourth quarter valued at approximately $509,788,000. Geode Capital Management LLC grew its stake in Zoom Communications by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company's stock worth $445,254,000 after buying an additional 152,862 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Zoom Communications by 7.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,637,903 shares of the company's stock valued at $400,205,000 after buying an additional 341,104 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Zoom Communications by 4.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,767,681 shares of the company's stock valued at $238,823,000 after purchasing an additional 121,835 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Zoom Communications by 10.8% during the 1st quarter. Pacer Advisors Inc. now owns 2,595,840 shares of the company's stock worth $208,680,000 after buying an additional 253,181 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Activity

In other news, CEO Eric Yuan sold 12,100 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $95.34, for a total transaction of $1,153,614.00. Following the completion of the sale, the chief executive officer owned 22,998 shares in the company, valued at $2,192,629.32. This trade represents a 34.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 firm'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 completion of the sale, the chief financial officer directly owned 35,452 shares in the company, valued at $3,219,041.60. The trade was a 19.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders have sold 56,108 shares of company stock valued at $5,381,876. Insiders own 8.83% of the company's stock.

Zoom Communications Stock Down 2.1%

NASDAQ ZM traded down $1.97 during trading on Tuesday, hitting $93.39. The stock had a trading volume of 2,288,737 shares, compared to its average volume of 4,055,486. The firm has a 50 day moving average price of $97.05 and a 200 day moving average price of $91.89. The company has a market capitalization of $27.25 billion, a PE ratio of 8.66, a PEG ratio of 4.42 and a beta of 1.04. Zoom Communications, Inc. has a twelve month low of $70.70 and a twelve month high of $114.74.

Zoom Communications (NASDAQ:ZM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.07. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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, sell-side analysts anticipate that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citizens Jmp reiterated a "market perform" rating on shares of Zoom Communications in a report on Wednesday, August 26th. Piper Sandler raised their target price 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. Robert W. Baird upped their price target on shares of Zoom Communications from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Tuesday, May 19th. Jefferies Financial Group dropped their price objective on Zoom Communications from $118.00 to $116.00 and set a "buy" rating on the stock in a research note on Wednesday, August 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $130.00 price objective on shares of Zoom Communications in a research note on Wednesday, August 26th. Sixteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.55.

Zoom Communications Company Profile

Zoom Communications, Inc NASDAQ: ZM is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.

Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.

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