Zoom Video Communications’ (ZM) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report published on Friday,Benzinga reports.

ZM has been the topic of a number of other research reports. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Sanford C. Bernstein boosted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Benchmark boosted their target price on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Mizuho lifted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.81.

Zoom Video Communications Trading Down 0.6 %

NASDAQ:ZM opened at $79.46 on Friday. The firm has a market cap of $24.35 billion, a P/E ratio of 26.49, a PEG ratio of 5.29 and a beta of -0.01. The stock’s 50 day simple moving average is $82.96 and its 200-day simple moving average is $71.10. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the sale, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 358,363 shares of company stock valued at $28,010,614 in the last quarter. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Several large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Zoom Video Communications by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 74,890 shares of the company’s stock valued at $6,112,000 after purchasing an additional 398 shares during the period. Nordea Investment Management AB increased its position in shares of Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after purchasing an additional 521,778 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Zoom Video Communications during the 4th quarter valued at $346,000. GAMMA Investing LLC increased its position in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after purchasing an additional 164 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Zoom Video Communications by 53.0% during the 4th quarter. Versant Capital Management Inc now owns 1,509 shares of the company’s stock valued at $123,000 after purchasing an additional 523 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.