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Zoom Communications, Inc. (NASDAQ:ZM) Shares Sold by Teacher Retirement System of Texas

Zoom Communications logo with Computer and Technology background

Teacher Retirement System of Texas decreased its stake in Zoom Communications, Inc. (NASDAQ:ZM - Free Report) by 40.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,699 shares of the company's stock after selling 240,574 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Zoom Communications worth $25,797,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ZM. FMR LLC increased its stake in shares of Zoom Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank acquired a new position in shares of Zoom Communications in the fourth quarter worth $751,908,000. AQR Capital Management LLC boosted its stake in shares of Zoom Communications by 5.2% during the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after acquiring an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Zoom Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Zoom Communications by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Buying and Selling

In other news, Director Janet Napolitano sold 2,617 shares of Zoom Communications stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $76.78, for a total value of $200,933.26. Following the completion of the transaction, the director directly owned 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider directly owned 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,196 shares of company stock worth $6,885,843. 11.51% of the stock is currently owned by insiders.

Zoom Communications Trading Up 0.7%

Shares of NASDAQ:ZM opened at $78.12 on Friday. The firm has a market cap of $23.64 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 12.88 and a beta of 0.68. The company has a fifty day simple moving average of $79.34 and a 200 day simple moving average of $78.80. Zoom Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Zoom Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. The company had revenue of $1.17 billion during 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 firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $1.35 EPS. As a group, equities research analysts forecast that Zoom Communications, Inc. will post 2.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup cut their price target on Zoom Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Morgan Stanley lifted their price objective on Zoom Communications from $79.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. KeyCorp assumed coverage on Zoom Communications in a research note on Friday, June 6th. They issued an "underweight" rating and a $73.00 target price for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $95.00 target price on shares of Zoom Communications in a research report on Thursday, May 22nd. Finally, Wall Street Zen cut Zoom Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $87.00.

Read Our Latest Research Report on ZM

Zoom Communications Profile

(Free Report)

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.

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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).

Institutional Ownership by Quarter for Zoom Communications (NASDAQ:ZM)

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.

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