link here (may not be accessible by all): https://www.etrade.wallst.com/v1/news/marketnews/marketnews…
They buried the lede,…“…CalPERS more than doubled its shares in ZM…” In reality, they more than 5Xed their ZM holdings in Q2.
California Public Employees Retirement System (CalPERS) disclosed Wednesday that it more than doubled its shares in ZM (Zoom Video Communications Inc., not ZoomInfo), while it re balanced its holdings of AAPL and MSFT) by trimming its stakes during the second quarter.
So basically, CalPERS sold AAPL and MSFT to buy more ZM shares (among a few other companies).
As of June 30, the pension fund increased its ZM holding from 61,070 shares to 341,358 shares.
Calpers returned 4.7% last year.
Since the end of the quarter ZM is flat, Apple is up about 25%.
Not a ringing endorsement of Calpers, that’s for sure.
As far as investing like CALPers…I don’t think that was the point.
My wife a sister are bother teachers and both will be utilizing Zoom to teach their classes beginning next week. I work remotely and have been in meetings using MS Teams everyday since March. Although both my sister and wife taught with Zoom at the end of the last school year, both of them were taking Zoom classes over the summer to prepare for this coming year. My being a Zm shareholder, I was happy to help my wife and sister practice utilizing the new to them functionality now present in their Zoom Classrooms.
I’d say that Zoom is at least 10x better than MS Teams and told my manager at work as much today. When all the parents see what teachers are able to do on Zoom for their kids this year, I think many parents will be asking their managers for Zoom subscriptions also.
I also believe that when all we can see what a motivated teacher can do on Zoom, the best teachers can charge what their worth. And I believe that will be game changing.
I agree the point was not about investing like CalPERS. However, it was meant to serve as further endorsement of ZM and frankly, based on CalPERS history, it’s more likely suggestive that we shouldn’t expect significant gains until such time as CalPERS REDUCES their holdings.
Let me know when that happens and I will back up the truck.
Thinly traded pushes price up