PFA Pension Forsikringsaktieselskab Makes New Investment in Zoom Communications, Inc. $ZM

Key Points

• PFA Pension Forsikringsaktieselskab opened a new position in Zoom, buying 394,643 shares valued at about $34.06 million, representing roughly 0.13% of the company; institutional investors collectively own about 66.54% of Zoom's stock.
• Investors are re‑rating Zoom on the back of its Anthropic stake (a 2023 ~$51M investment that some estimates value at ~$2–$4B today) and a large cash/marketable‑securities position (~$7.8B) plus active buybacks, which could amplify upside if sentiment improves.
• Offsetting risks include heavy insider selling (89 insider sales and zero purchases in six months), mixed analyst views with a consensus "Hold" and $95.32 target, and an upcoming Q1 FY27 earnings release on May 21 that could materially move the stock.

PFA Pension Forsikringsaktieselskab acquired a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 394,643 shares of the company's stock, valued at approximately $34,058,000. PFA Pension Forsikringsaktieselskab owned approximately 0.13% of Zoom Communications as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ZM. 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 worth $699,357,000 after buying an additional 1,607,253 shares in the last quarter. Two Sigma Investments LP acquired a new position in Zoom Communications during the 3rd quarter worth $86,709,000. Vanguard Group Inc. lifted its holdings in Zoom Communications by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 26,967,224 shares of the company's stock worth $2,327,002,000 after buying an additional 1,029,623 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Zoom Communications by 46.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,645,846 shares of the company's stock valued at $218,282,000 after purchasing an additional 836,594 shares during the period. Finally, Amundi lifted its stake in shares of Zoom Communications by 87.4% in the 3rd quarter. Amundi now owns 1,637,670 shares of the company's stock valued at $132,700,000 after purchasing an additional 763,779 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Key Headlines Impacting Zoom Communications

Here are the key news stories impacting Zoom Communications this week:

• Positive Sentiment: Renewed focus on Zoom’s Anthropic stake — analysts (Baird cited in market coverage) argue Zoom’s 2023 ~$51M investment could be worth roughly $2–$4B today under certain dilution assumptions, which would represent meaningful latent asset value relative to Zoom’s market cap; Anthropic’s growth updates and infrastructure partnerships boost that re‑valuation narrative. Zoom shares climb as investors revisit potential value of its Anthropic stake
• Positive Sentiment: Large buyback/cash optionality — Zoom reported a roughly $7.8B cash and marketable securities position (as of Jan 31, 2026) and has executed sizable repurchases in FY26 with remaining authorization, which can amplify upside when sentiment turns positive. Zoom shares climb as investors revisit potential value of its Anthropic stake
• Positive Sentiment: Unusually heavy call buying — traders purchased ~23,600 call options (up ~41% vs. typical volume), signaling speculative bullish positioning by options traders that can accelerate intraday moves.
• Neutral Sentiment: Upcoming Q1 FY27 results scheduled for May 21 after the close — the print and management commentary, plus any updated guidance, could either reinforce the current move or reverse it depending on execution and commentary on AI/enterprise demand. Zoom to Release Financial Results for the First Quarter of Fiscal Year 2027
• Neutral Sentiment: Marketing push around LLM differentiation — WSJ reports Zoom has a 'SWAT team' to position itself versus ChatGPT/Gemini; this is operational/branding news that supports long‑term product positioning but is not an immediate earnings catalyst. Zoom Has a ‘SWAT Team' to Stand Out on ChatGPT and Gemini
• Neutral Sentiment: Coverage highlighting Anthropic early investors — broader media pieces (e.g., The Motley Fool) listing early Anthropic backers add context and may sustain investor interest in any Anthropic-related re‑rating. Want in on AI Superstar Anthropic Before Its IPO? These 4 Companies Are Some of Its Earliest Investors.
• Negative Sentiment: Heavy insider selling — data show 89 insider sales and zero purchases in the past six months (including large sales by CEO Eric Yuan), which can dampen investor confidence and serve as a counterweight to valuation re‑rating. Zoom shares climb as investors revisit potential value of its Anthropic stake
• Negative Sentiment: Analyst price targets and mixed institutional flows — median recent target (~$97.5) sits below current levels for some firms, and institutions showed both large buys and sizable reductions in Q4 2025, suggesting divergent views that could limit sustained upside without fresh fundamental beats. Zoom shares climb as investors revisit potential value of its Anthropic stake

Analyst Ratings Changes

A number of research firms have recently weighed in on ZM. KeyCorp increased their price target on Zoom Communications from $69.00 to $74.00 and gave the company an "underweight" rating in a research note on Thursday, February 26th. Wall Street Zen downgraded Zoom Communications from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Citigroup raised Zoom Communications from a "neutral" rating to a "buy" rating and increased their price target for the company from $94.00 to $106.00 in a research note on Monday, January 12th. BTIG Research cut their price target on Zoom Communications from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Finally, Piper Sandler increased their price target on Zoom Communications from $85.00 to $91.00 and gave the company a "neutral" rating in a research note on Monday, January 5th. Fourteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $95.32.

Zoom Communications Price Performance

ZM opened at $103.44 on Monday. Zoom Communications, Inc. has a 12 month low of $69.15 and a 12 month high of $104.14. The company has a fifty day simple moving average of $82.06 and a 200 day simple moving average of $84.78. The stock has a market cap of $30.48 billion, a P/E ratio of 16.68, a P/E/G ratio of 5.92 and a beta of 1.00.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.04). Zoom Communications had a net margin of 39.03% and a return on equity of 11.88%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $1.41 EPS. Zoom Communications's quarterly revenue was up 5.3% on a year-over-year basis. Zoom Communications has set its FY 2027 guidance at 5.770-5.810 EPS and its Q1 2027 guidance at 1.400-1.420 EPS. On average, equities research analysts expect that Zoom Communications, Inc. will post 3.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Santiago Subotovsky sold 2,388 shares of the company's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $87.32, for a total value of $208,520.16. Following the completion of the sale, the director owned 152,192 shares in the company, valued at $13,289,405.44. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the company's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $81.32, for a total transaction of $690,325.48. Following the completion of the sale, the chief financial officer owned 30,467 shares of the company's stock, valued at approximately $2,477,576.44. This represents a 21.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 126,787 shares of company stock worth $10,464,909 over the last 90 days. 10.78% of the stock is currently owned by corporate 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.

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