Illinois Municipal Retirement Fund Sells 69,659 Shares of Zoom Communications, Inc. $ZM

Illinois Municipal Retirement Fund reduced its position in Zoom Communications, Inc. (NASDAQ:ZM) by 26.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,262 shares of the company’s stock after selling 69,659 shares during the quarter. Illinois Municipal Retirement Fund owned 0.07% of Zoom Communications worth $15,697,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Kestra Advisory Services LLC increased its holdings in shares of Zoom Communications by 2.0% in the 4th quarter. Kestra Advisory Services LLC now owns 5,928 shares of the company’s stock valued at $512,000 after acquiring an additional 116 shares during the period. 3Chopt Investment Partners LLC lifted its stake in shares of Zoom Communications by 1.6% during the 1st quarter. 3Chopt Investment Partners LLC now owns 7,370 shares of the company’s stock worth $592,000 after purchasing an additional 119 shares during the last quarter. Rexford Capital Inc. boosted its position in Zoom Communications by 45.7% during the first 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. New York State Teachers Retirement System boosted its position in Zoom Communications by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 24,263 shares of the company’s stock valued at $2,094,000 after purchasing an additional 123 shares in the last quarter. Finally, Root Financial Partners LLC grew its stake in Zoom Communications by 33.5% in the fourth quarter. Root Financial Partners LLC now owns 542 shares of the company’s stock valued at $47,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In other Zoom Communications news, CEO Eric S. Yuan sold 12,100 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $111.61, for a total transaction of $1,350,481.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michelle Chang sold 8,489 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $90.80, for a total value of $770,801.20. Following the completion of the transaction, the chief financial officer directly owned 35,452 shares in the company, valued at $3,219,041.60. This represents a 19.32% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 48,517 shares of company stock valued at $5,061,783. 8.83% of the stock is owned by company insiders.

Zoom Communications Stock Performance

Shares of NASDAQ ZM opened at $92.92 on Friday. The company has a market cap of $27.25 billion, a PE ratio of 13.64, a P/E/G ratio of 5.11 and a beta of 1.01. The business has a 50-day simple moving average of $95.11 and a two-hundred day simple moving average of $88.90. Zoom Communications, Inc. has a fifty-two week low of $69.15 and a fifty-two week high of $114.74.

Zoom Communications (NASDAQ:ZM) last posted its quarterly earnings data on Thursday, May 21st. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.13. The firm had revenue of $1.24 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share. 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. On average, sell-side analysts predict that Zoom Communications, Inc. will post 4.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ZM shares. Cantor Fitzgerald boosted their target price on shares of Zoom Communications from $87.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, May 22nd. HSBC lifted their price objective on shares of Zoom Communications from $107.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. 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. Citizens Jmp reissued a “market perform” rating on shares of Zoom Communications in a research report on Wednesday, May 20th. Finally, BTIG Research raised their target price on shares of Zoom Communications from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.33.

About Zoom Communications

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.