California State Teachers Retirement System Has $2.76 Billion Position in Zoom Communications, Inc. $ZM

California State Teachers Retirement System lifted its stake in shares of Zoom Communications, Inc. (NASDAQ:ZM) by 8,620.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,999,864 shares of the company’s stock after purchasing an additional 31,632,917 shares during the quarter. California State Teachers Retirement System owned 0.11% of Zoom Communications worth $2,761,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in Zoom Communications by 43.9% in the 4th quarter. AQR Capital Management LLC now owns 12,195,243 shares of the company’s stock valued at $1,052,328,000 after purchasing an additional 3,718,186 shares during the last quarter. State Street Corp grew its stake in shares of Zoom Communications by 5.0% during the fourth quarter. State Street Corp now owns 7,582,924 shares of the company’s stock worth $654,331,000 after buying an additional 363,776 shares during the last quarter. Norges Bank bought a new stake in shares of Zoom Communications during the fourth quarter worth $509,788,000. Geode Capital Management LLC increased its holdings in shares of Zoom Communications by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 5,139,583 shares of the company’s stock worth $445,254,000 after buying an additional 152,862 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Zoom Communications by 7.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,637,903 shares of the company’s stock worth $400,205,000 after buying an additional 341,104 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group raised their price objective on Zoom Communications from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Robert W. Baird upped their target price on Zoom Communications from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Piper Sandler increased their target price on Zoom Communications from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of Zoom Communications in a research report on Wednesday, August 26th. Finally, HSBC lifted their price target on Zoom Communications from $107.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Sixteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $112.55.

Insider Buying and Selling

In other news, CFO Michelle Chang sold 8,489 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 35,452 shares in the company, valued at $3,219,041.60. This trade represents a 19.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, 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 completion of the transaction, the insider directly owned 148,403 shares in the company, valued at approximately $13,650,107.94. This represents a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 53,518 shares of company stock worth $5,133,728. Corporate insiders own 8.83% of the company’s stock.

Zoom Communications Stock Performance

Shares of NASDAQ:ZM opened at $95.46 on Friday. The firm has a market cap of $27.85 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 4.45 and a beta of 1.04. The firm’s fifty day moving average is $96.67 and its 200-day moving average is $91.77. Zoom Communications, Inc. has a 52 week low of $70.70 and a 52 week high of $114.74.

Zoom Communications (NASDAQ:ZM) last issued its quarterly earnings data on Tuesday, August 25th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.07. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Zoom Communications had a net margin of 65.19% and a return on equity of 10.86%. Zoom Communications’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. 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. Sell-side analysts forecast that Zoom Communications, Inc. will post 4.26 EPS for the current 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.