Zoom Video Communications (NASDAQ:ZM) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Zoom Video Communications (NASDAQ:ZM) in a report released on Tuesday morning,Benzinga reports.

Several other research analysts have also recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a report on Friday, January 17th. They issued a “neutral” rating and a $87.00 price target for the company. Mizuho upped their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Barclays increased their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.81.

Zoom Video Communications Stock Down 8.5 %

Zoom Video Communications stock opened at $74.22 on Tuesday. The stock has a market capitalization of $22.75 billion and a PE ratio of 24.74. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a 50 day moving average of $82.92 and a 200-day moving average of $76.67.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 83,333 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently bought and sold shares of the business. Leigh Baldwin & CO. LLC bought a new position in Zoom Video Communications during the fourth quarter worth about $239,000. Mackenzie Financial Corp grew its stake in Zoom Video Communications by 98.6% during the fourth quarter. Mackenzie Financial Corp now owns 70,955 shares of the company’s stock worth $5,791,000 after buying an additional 35,230 shares in the last quarter. Forum Financial Management LP acquired a new stake in Zoom Video Communications during the fourth quarter worth about $345,000. Peak Retirement Planning Inc. acquired a new stake in Zoom Video Communications during the fourth quarter worth about $961,000. Finally, Toronto Dominion Bank grew its stake in Zoom Video Communications by 4.9% during the fourth quarter. Toronto Dominion Bank now owns 33,541 shares of the company’s stock worth $2,737,000 after buying an additional 1,576 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

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.