JMP Securities Reaffirms Market Perform Rating for Zoom Video Communications (NASDAQ:ZM)

JMP Securities reaffirmed their market perform rating on shares of Zoom Video Communications (NASDAQ:ZM) in a research report released on Tuesday,Benzinga reports.

ZM has been the subject of a number of other reports. Stifel Nicolaus raised their target price on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Benchmark boosted their price objective on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America dropped their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Thursday, October 10th. Finally, Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $85.20.

Zoom Video Communications Stock Down 6.3 %

Zoom Video Communications stock opened at $83.41 on Tuesday. The firm has a 50 day moving average price of $74.16 and a 200-day moving average price of $65.89. Zoom Video Communications has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $25.67 billion, a P/E ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05.

Insider Transactions at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 12,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $113,610.56. This represents a 89.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total value of $165,479.60. Following the transaction, the chief executive officer now directly owns 85,514 shares in the company, valued at approximately $5,847,447.32. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock valued at $26,796,191 in the last quarter. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of 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 purchasing an additional 2,395,396 shares in the last quarter. State Street Corp lifted its stake in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares during the last quarter. AQR Capital Management LLC boosted its position in 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 buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. grew its stake in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after buying an additional 233,241 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

About Zoom Video Communications

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.