Zoom Video Communications (NASDAQ:ZM) Shares Gap Down – Time to Sell?

Zoom Video Communications, Inc. (NASDAQ:ZM)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $89.03, but opened at $84.02. Zoom Video Communications shares last traded at $83.03, with a volume of 3,378,293 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ZM shares. Deutsche Bank Aktiengesellschaft lifted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Barclays increased their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday. Sanford C. Bernstein lifted their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Benchmark increased their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Trading Up 2.3 %

The firm has a market cap of $26.27 billion, a P/E ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05. The business has a 50-day moving average price of $74.55 and a 200-day moving average price of $66.03.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the sale, the insider now directly owns 94,000 shares in the company, valued at $6,285,780. This trade represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock valued at $26,796,191 over the last three months. 10.78% of the stock is owned by company insiders.

Institutional Trading of Zoom Video Communications

Several hedge funds have recently modified their holdings of ZM. Pacer Advisors Inc. lifted its holdings in shares of Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC raised its stake in Zoom Video Communications by 78.5% in 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 last quarter. FMR LLC raised its stake in Zoom Video Communications by 23.8% in the third 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. Acadian Asset Management LLC boosted its holdings in 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 acquiring an additional 1,855,679 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications during the third quarter worth about $62,038,000. 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.