Zoom Communications, Inc. $ZM Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 26.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 195,262 shares of the company’s stock after selling 69,659 shares during the period. Illinois Municipal Retirement Fund’s holdings in Zoom Communications were worth $15,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Advocate Investing Services LLC acquired a new position in Zoom Communications in the fourth quarter valued at approximately $26,000. Strive Financial Group LLC acquired a new stake in shares of Zoom Communications during the 4th quarter worth approximately $27,000. Toth Financial Advisory Corp purchased a new position in shares of Zoom Communications during the 4th quarter valued at approximately $28,000. Rexford Capital Inc. increased its holdings in shares of Zoom Communications by 45.7% during the 1st quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock valued at $31,000 after purchasing an additional 122 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Zoom Communications by 94.8% in the fourth quarter. Sound Income Strategies LLC now owns 411 shares of the company’s stock worth $33,000 after acquiring an additional 200 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoom Communications news, CFO Michelle Chang sold 8,489 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $90.80, for a total transaction of $770,801.20. Following the completion of the sale, the chief financial officer directly owned 35,452 shares in the company, valued at approximately $3,219,041.60. The trade was a 19.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, CEO Eric S. Yuan sold 12,100 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total value of $1,350,481.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 48,517 shares of company stock worth $5,061,783. Corporate insiders own 8.83% of the company’s stock.

Zoom Communications Stock Up 0.3%

Shares of NASDAQ ZM opened at $92.92 on Friday. The firm has a market cap of $27.25 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01. The company’s 50-day simple moving average is $95.11 and its 200-day simple moving average is $88.90. Zoom Communications, Inc. has a 52-week low of $69.15 and a 52-week high of $114.74.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.13. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. Zoom Communications has set its FY 2027 guidance at 5.960-6.000 EPS and its Q2 2027 guidance at 1.450-1.470 EPS. Equities research analysts anticipate that Zoom Communications, Inc. will post 4.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZM has been the topic of several recent analyst reports. Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a research note on Wednesday, May 20th. Wells Fargo & Company lifted their price target on Zoom Communications from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Citigroup upped their price target on Zoom Communications from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. HSBC increased their price target on Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings cut Zoom Communications from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.33.

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.