Retirement Systems of Alabama Boosts Stake in Zoom Communications, Inc. (NASDAQ:ZM)

Retirement Systems of Alabama increased its position in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 717,073 shares of the company's stock after buying an additional 12,847 shares during the period. Retirement Systems of Alabama owned 0.23% of Zoom Communications worth $52,898,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Zoom Communications by 177.0% in 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 raised its holdings in shares of Zoom Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Zoom Communications in the fourth quarter worth approximately $30,000. Colonial Trust Co SC purchased a new stake in shares of Zoom Communications in the fourth quarter worth approximately $32,000. Finally, MRP Capital Investments LLC raised its holdings 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 buying an additional 500 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zoom Communications

In other Zoom Communications news, COO Aparna Bawa sold 16,099 shares of Zoom Communications stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $143,583.02. The trade was a 89.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 41,121 shares of Zoom Communications stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. Insiders sold 96,671 shares of company stock valued at $7,078,546 in the last quarter. 11.51% of the stock is currently owned by corporate insiders.

Zoom Communications Trading Down 0.5%

Shares of NASDAQ:ZM opened at $77.48 on Friday. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business's fifty day simple moving average is $78.25 and its 200-day simple moving average is $79.29. The company has a market capitalization of $23.44 billion, a PE ratio of 23.27, a P/E/G ratio of 12.86 and a beta of 0.71.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $1.43 earnings per share (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 was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.35 EPS. Research analysts predict that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ZM shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 price target on shares of Zoom Communications in a report on Thursday, May 22nd. Mizuho reduced their price target on Zoom Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. UBS Group reduced their price target on Zoom Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC upgraded Zoom Communications from a "hold" rating to a "moderate buy" rating and set a $100.00 price target on the stock in a report on Thursday, May 22nd. Finally, Benchmark reiterated a "buy" rating and issued a $97.00 price target on shares of Zoom Communications in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $87.00.

Zoom Communications Company 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.

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Communications, Inc. (NASDAQ:ZM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.