Retirement Systems of Alabama Has $52.90 Million Stock Position in Zoom Communications, Inc. (NASDAQ:ZM)

Retirement Systems of Alabama increased its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 717,073 shares of the company's stock after purchasing an additional 12,847 shares during the quarter. Retirement Systems of Alabama owned approximately 0.23% of Zoom Communications worth $52,898,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Yousif Capital Management LLC lifted its stake in Zoom Communications by 31.9% in the first quarter. Yousif Capital Management LLC now owns 4,453 shares of the company's stock valued at $328,000 after acquiring an additional 1,076 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Zoom Communications in the fourth quarter valued at approximately $966,000. PNC Financial Services Group Inc. lifted its stake in Zoom Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after acquiring an additional 168 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Zoom Communications by 768.1% in the fourth quarter. Principal Financial Group Inc. now owns 148,488 shares of the company's stock valued at $12,118,000 after acquiring an additional 131,383 shares during the last quarter. Finally, Synergy Financial Group LTD lifted its stake in Zoom Communications by 5.1% in the fourth quarter. Synergy Financial Group LTD now owns 5,437 shares of the company's stock valued at $444,000 after acquiring an additional 263 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Communications Trading Down 0.9%

NASDAQ:ZM traded down $0.72 during trading hours on Monday, hitting $77.27. 1,684,555 shares of the company traded hands, compared to its average volume of 2,887,182. The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 12.95 and a beta of 0.71. Zoom Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a 50-day moving average of $78.49 and a 200 day moving average of $79.13.

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 the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Zoom Communications had a net margin of 22.31% and a return on equity of 11.08%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 EPS. Equities research analysts predict that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Zoom Communications

In other news, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $72.18, for a total value of $2,968,113.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the company's 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 directly owns 1,978 shares in the company, valued at approximately $143,583.02. The trade was a 89.06% 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 90 days. 10.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZM shares. Benchmark reiterated a "buy" rating and issued a $97.00 target price on shares of Zoom Communications in a research note on Tuesday, May 20th. Bank of America lifted their target price on shares of Zoom Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Stifel Nicolaus reduced their target price on shares of Zoom Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Communications in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Zoom Communications from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.