Public Employees Retirement System of Ohio Takes $7.05 Million Position in Zoom Communications, Inc. $ZM

Public Employees Retirement System of Ohio purchased a new position in shares of Zoom Communications, Inc. (NASDAQ:ZM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,663 shares of the company’s stock, valued at approximately $7,048,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ZM. Ancora Advisors LLC bought a new position in Zoom Communications during the 2nd quarter valued at $498,000. Plato Investment Management Ltd bought a new stake in shares of Zoom Communications in the 2nd quarter worth $603,000. Handelsbanken Fonder AB raised its holdings in shares of Zoom Communications by 6.6% in the second quarter. Handelsbanken Fonder AB now owns 200,418 shares of the company’s stock valued at $17,298,000 after purchasing an additional 12,457 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Zoom Communications by 133.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 350 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its position in shares of Zoom Communications by 400.0% during the second quarter. Strategic Investment Solutions Inc. IL now owns 500 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Communications Stock Performance

ZM stock opened at $94.90 on Wednesday. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 4.47 and a beta of 1.04. Zoom Communications, Inc. has a fifty-two week low of $70.70 and a fifty-two week high of $114.74. The stock has a fifty day moving average of $95.07 and a 200-day moving average of $91.44.

Zoom Communications (NASDAQ:ZM) last announced its quarterly earnings data 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. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Zoom Communications had a return on equity of 10.86% and a net margin of 65.19%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. 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. Equities analysts predict that Zoom Communications, Inc. will post 4.26 EPS for the current year.

Insider Buying and Selling at Zoom Communications

In other news, insider Velchamy Sankarlingam sold 7,644 shares of the business’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $91.98, for a total value of $703,095.12. Following the sale, the insider owned 148,403 shares of the company’s stock, valued at $13,650,107.94. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $90.80, for a total transaction of $770,801.20. Following the sale, the chief financial officer owned 35,452 shares in the company, valued at $3,219,041.60. The trade was a 19.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 38,781 shares of company stock worth $3,725,300 over the last three months. Company insiders own 8.83% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ZM. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Zoom Communications in a report on Friday, August 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $104.00 target price on shares of Zoom Communications in a research report on Monday, August 24th. Sanford C. Bernstein restated a “market perform” rating and issued a $108.00 target price on shares of Zoom Communications in a research note on Wednesday, August 26th. Bank of America initiated coverage on Zoom Communications in a report on Wednesday, August 19th. They issued a “buy” rating and a $130.00 target price for the company. Finally, HSBC lifted their price target on Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Sixteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $112.55.

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.