VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Zoom Communications, Inc. $ZM

Key Points

• Virginia Retirement Systems acquired 197,574 Zoom shares worth approximately $17.1 million, while institutional investors collectively own 66.54% of the company.
• Analysts maintain a “Moderate Buy” consensus, with 16 Buy and 12 Hold ratings and an average price target of $112.55.
• Zoom’s latest quarterly results exceeded expectations, with EPS of $1.55 versus the $1.48 consensus and revenue of $1.28 billion, up 4.9% year over year.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 197,574 shares of the company's stock, valued at approximately $17,053,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of Zoom Communications as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Zoom Communications by 8,620.6% in the second quarter. California State Teachers Retirement System now owns 31,999,864 shares of the company's stock valued at $2,761,908,000 after buying an additional 31,632,917 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Zoom Communications by 43.9% in the 4th quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company's stock worth $1,052,328,000 after buying an additional 3,718,186 shares in the last quarter. State Street Corp grew its stake in Zoom Communications by 5.0% in the 4th quarter. State Street Corp now owns 7,582,924 shares of the company's stock valued at $654,331,000 after acquiring an additional 363,776 shares during the last quarter. Norges Bank acquired a new stake in Zoom Communications in the 4th quarter valued at about $509,788,000. Finally, Geode Capital Management LLC increased its holdings 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 valued at $445,254,000 after acquiring an additional 152,862 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $130.00 target price on shares of Zoom Communications in a research report on Friday, August 21st. KeyCorp reiterated a "sector weight" rating on shares of Zoom Communications in a research report on Wednesday, August 26th. Bank of America began coverage on shares of Zoom Communications in a research note on Wednesday, August 19th. They set a "buy" rating and a $130.00 price objective for the company. Citigroup lifted their price objective on Zoom Communications from $122.00 to $126.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $130.00 target price on shares of Zoom Communications in a research note on Wednesday, August 26th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $112.55.

Zoom Communications Stock Performance

Shares of ZM stock opened at $101.33 on Tuesday. The firm has a 50-day moving average price of $96.18 and a 200 day moving average price of $91.66. Zoom Communications, Inc. has a twelve month low of $70.70 and a twelve month high of $114.74. The company has a market capitalization of $29.57 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 4.69 and a beta of 1.04.

Zoom Communications (NASDAQ:ZM - Get Free Report) last released its earnings results on Tuesday, August 25th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the firm earned $1.53 EPS. The firm's quarterly revenue was up 4.9% on a year-over-year basis. 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. As a group, research analysts predict that Zoom Communications, Inc. will post 4.26 earnings per share for the current year.

Insider Activity

In other Zoom Communications news, insider Velchamy Sankarlingam sold 7,644 shares of the business's stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $91.98, for a total value of $703,095.12. Following the completion of the transaction, the insider directly owned 148,403 shares in the company, valued at approximately $13,650,107.94. The trade was a 4.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 business's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $90.80, for a total value of $770,801.20. Following the completion of the transaction, the chief financial officer owned 35,452 shares of the company's stock, valued at $3,219,041.60. This trade represents a 19.32% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 50,881 shares of company stock worth $4,878,914. 8.83% 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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