California State Teachers Retirement System Buys 31,632,917 Shares of Zoom Communications, Inc. $ZM

California State Teachers Retirement System boosted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 8,620.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,999,864 shares of the company’s stock after purchasing an additional 31,632,917 shares during the period. California State Teachers Retirement System owned 10.91% of Zoom Communications worth $2,761,908,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Advocate Investing Services LLC bought a new stake in shares of Zoom Communications during the 4th quarter worth approximately $26,000. Strive Financial Group LLC bought a new position in shares of Zoom Communications in the fourth quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. grew its stake 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 buying an additional 200 shares in the last quarter. Rexford Capital Inc. increased its holdings in Zoom Communications by 45.7% during the first quarter. Rexford Capital Inc. now owns 389 shares of the company’s stock worth $31,000 after buying an additional 122 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in Zoom Communications by 83.3% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 440 shares of the company’s stock worth $38,000 after buying an additional 200 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Activity at Zoom Communications

In other news, CEO Eric Yuan sold 12,100 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $95.34, for a total transaction of $1,153,614.00. Following the transaction, the chief executive officer owned 22,998 shares in the company, valued at approximately $2,192,629.32. This trade represents a 34.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,644 shares of Zoom Communications stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $91.98, for a total value of $703,095.12. Following the sale, the insider directly owned 148,403 shares of the company’s stock, valued at approximately $13,650,107.94. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 53,518 shares of company stock valued at $5,133,728. 8.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. HSBC upped their target price on shares of Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Sanford C. Bernstein reiterated a “market perform” rating and set a $108.00 price target on shares of Zoom Communications in a report on Wednesday, August 26th. Jefferies Financial Group lowered their price target on Zoom Communications from $118.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. Finally, Mizuho upped their price objective on Zoom Communications from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.55.

Zoom Communications Price Performance

Shares of ZM opened at $95.46 on Friday. The company’s 50-day moving average is $96.67 and its 200-day moving average is $91.77. The firm has a market capitalization of $27.85 billion, a PE ratio of 8.84, a PEG ratio of 4.45 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.

Zoom Communications (NASDAQ:ZM) last announced its earnings results on Tuesday, August 25th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.48 by $0.07. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. Zoom Communications’s revenue was up 4.9% compared to the same quarter last year. 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. Analysts predict that Zoom Communications, Inc. will post 4.26 earnings per share for the current fiscal year.

Zoom Communications Profile

Zoom Communications, Inc (NASDAQ: ZM) is a communications technology company that provides cloud-based tools for video meetings, collaboration and business communications. The company was founded in 2011 by Eric Yuan and is headquartered in San Jose, California. It was previously known as Zoom Video Communications before adopting the Zoom Communications name.

Its product portfolio includes Zoom Meetings for video conferencing, Zoom Phone for cloud-based business telephony, Zoom Team Chat for workplace messaging, and Zoom Rooms for conference-room collaboration.