Zoom Communications, Inc. $ZM Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 15.7% during the third quarter, Holdings Channel reports. The firm owned 901,346 shares of the company’s stock after selling 168,095 shares during the quarter. California Public Employees Retirement System’s holdings in Zoom Communications were worth $74,361,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Candriam S.C.A. raised its holdings in Zoom Communications by 49.4% during the 2nd quarter. Candriam S.C.A. now owns 16,560 shares of the company’s stock worth $1,291,000 after buying an additional 5,477 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Zoom Communications by 10.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,753 shares of the company’s stock worth $19,697,000 after buying an additional 22,704 shares during the period. Strive Asset Management LLC acquired a new position in shares of Zoom Communications in the third quarter worth about $1,238,000. LSV Asset Management increased its position in shares of Zoom Communications by 5.0% in the third quarter. LSV Asset Management now owns 1,069,440 shares of the company’s stock worth $88,229,000 after acquiring an additional 50,579 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of Zoom Communications in the second quarter worth approximately $1,248,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Trading Up 1.2%

ZM opened at $74.96 on Tuesday. The stock has a fifty day moving average price of $85.18 and a 200 day moving average price of $84.52. Zoom Communications, Inc. has a 1 year low of $64.41 and a 1 year high of $97.58. The stock has a market cap of $22.20 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 4.24 and a beta of 0.93.

Zoom Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, February 25th. The company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.04). Zoom Communications had a return on equity of 11.88% and a net margin of 39.03%.The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The business’s revenue for the quarter 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. As a group, sell-side analysts forecast that Zoom Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Transactions at Zoom Communications

In other Zoom Communications news, CFO Michelle Chang sold 8,417 shares of Zoom Communications stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $86.54, for a total value of $728,407.18. Following the completion of the sale, the chief financial officer directly owned 25,482 shares in the company, valued at $2,205,212.28. The trade was a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $77.42, for a total transaction of $191,614.50. Following the completion of the sale, the director directly owned 153,442 shares of the company’s stock, valued at $11,879,479.64. This represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 109,706 shares of company stock valued at $9,299,555 in the last ninety days. 10.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on ZM shares. Piper Sandler upped their price target on shares of Zoom Communications from $85.00 to $91.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price objective on shares of Zoom Communications in a research report on Tuesday, November 25th. Benchmark cut their target price on shares of Zoom Communications from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Zoom Communications in a report on Friday. Finally, Argus raised Zoom Communications to a “hold” rating in a research report on Monday, March 9th. Fourteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.32.

Zoom Communications 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.