Zoom Video Communications (NASDAQ:ZM) Given “Market Perform” Rating at JMP Securities

JMP Securities restated their market perform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report sent to investors on Tuesday morning,Benzinga reports.

ZM has been the subject of several other reports. Robert W. Baird lowered their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Benchmark increased their target price on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Thursday, October 10th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $85.20.

Zoom Video Communications Trading Down 6.3 %

Shares of Zoom Video Communications stock opened at $83.41 on Tuesday. The firm has a market capitalization of $25.67 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 7.33 and a beta of -0.05. The firm’s 50 day moving average is $74.16 and its 200 day moving average is $65.89. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80.

Insider Activity

In related news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total value of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 in the last quarter. 10.78% of the stock is owned by corporate insiders.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of ZM. FMR LLC raised its position in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. State Street Corp raised its holdings in shares of Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

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.