Vestcor Inc Sells 14,868 Shares of Zoom Communications, Inc. $ZM

Vestcor Inc decreased its position in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 33.5% in the 3rd quarter, Holdings Channel reports. The fund owned 29,533 shares of the company’s stock after selling 14,868 shares during the quarter. Vestcor Inc’s holdings in Zoom Communications were worth $2,436,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in ZM. Vanguard Group Inc. lifted its stake in Zoom Communications by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 25,937,601 shares of the company’s stock worth $2,139,852,000 after purchasing an additional 986,164 shares in the last quarter. State Street Corp raised its position in Zoom Communications by 6.0% during the second quarter. State Street Corp now owns 7,189,501 shares of the company’s stock valued at $560,637,000 after purchasing an additional 410,051 shares in the last quarter. Norges Bank bought a new stake in Zoom Communications in the 2nd quarter worth approximately $539,998,000. Geode Capital Management LLC lifted its holdings in shares of Zoom Communications by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,795,307 shares of the company’s stock worth $373,504,000 after acquiring an additional 23,910 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Zoom Communications by 54.4% during the third quarter. Pacer Advisors Inc. now owns 2,695,193 shares of the company’s stock valued at $222,353,000 after buying an additional 949,829 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Zoom Communications from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zoom Communications in a research note on Monday, December 29th. Argus raised shares of Zoom Communications to a “hold” rating in a research report on Monday. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Communications in a research report on Tuesday, November 25th. Finally, Sanford C. Bernstein lowered their target price on Zoom Communications from $90.00 to $88.00 and set a “market perform” rating on the stock in a report on Thursday, February 26th. Fourteen equities research 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.com, Zoom Communications has a consensus rating of “Hold” and a consensus target price of $95.32.

Zoom Communications Stock Down 0.9%

NASDAQ ZM opened at $76.38 on Wednesday. Zoom Communications, Inc. has a 52 week low of $64.41 and a 52 week high of $97.58. The firm has a market capitalization of $22.62 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 4.40 and a beta of 0.93. The company has a fifty day moving average of $86.02 and a two-hundred day moving average of $84.68.

Zoom Communications (NASDAQ:ZM) last released its earnings results on Wednesday, February 25th. The company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.04). Zoom Communications had a return on equity of 11.88% and a net margin of 39.03%.The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business earned $1.41 EPS. 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. Equities research analysts anticipate that Zoom Communications, Inc. will post 2.93 EPS for the current year.

Insiders Place Their Bets

In related news, insider Velchamy Sankarlingam sold 7,568 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $86.55, for a total value of $655,010.40. Following the completion of the transaction, the insider owned 136,182 shares in the company, valued at $11,786,552.10. This trade represents a 5.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $77.42, for a total value of $191,614.50. Following the sale, the director directly owned 153,442 shares in the company, valued at approximately $11,879,479.64. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 180,494 shares of company stock worth $15,502,079. Insiders own 10.78% of the company’s stock.

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.