Illinois Municipal Retirement Fund Grows Stock Holdings in Zoom Communications, Inc. (NASDAQ:ZM)

Illinois Municipal Retirement Fund raised its holdings in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 225,412 shares of the company's stock after purchasing an additional 23,412 shares during the period. Illinois Municipal Retirement Fund owned 0.07% of Zoom Communications worth $16,629,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its stake in Zoom Communications by 177.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $28,000 after purchasing an additional 246 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Zoom Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Zoom Communications during the fourth quarter worth $30,000. Colonial Trust Co SC acquired a new stake in Zoom Communications in the 4th quarter worth about $32,000. Finally, MRP Capital Investments LLC boosted its stake in shares of Zoom Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after acquiring an additional 500 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoom Communications

In other Zoom Communications news, Director Janet Napolitano sold 2,617 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the transaction, the director now directly owns 4,728 shares of the company's stock, valued at approximately $363,015.84. The trade was a 35.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $80.67, for a total transaction of $199,658.25. Following the completion of the sale, the director now owns 155,349 shares of the company's stock, valued at $12,532,003.83. This trade represents a 1.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,196 shares of company stock valued at $6,885,843 in the last ninety days. Insiders own 10.78% of the company's stock.

Zoom Communications Trading Down 0.6%

Shares of ZM stock traded down $0.44 on Monday, reaching $77.94. 2,077,385 shares of the stock were exchanged, compared to its average volume of 2,889,101. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 13.01 and a beta of 0.71. The business's 50 day moving average price is $78.93 and its 200 day moving average price is $78.89. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoom Communications had a return on equity of 11.08% and a net margin of 22.31%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.35 EPS. Equities research analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a research report on Thursday, May 22nd. Needham & Company LLC upgraded Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price objective on the stock in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their price target on Zoom Communications from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Bank of America boosted their target price on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, KeyCorp started coverage on shares of Zoom Communications in a report on Friday, June 6th. They set an "underweight" rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Zoom Communications has a consensus rating of "Hold" and a consensus target price of $87.00.

Zoom Communications Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.