Wells Fargo & Company upgraded shares of Zoom Video Communications (NASDAQ:ZM – Free Report) from an underweight rating to an equal weight rating in a research note released on Tuesday, Marketbeat reports. Wells Fargo & Company currently has $85.00 price objective on the stock, up from their previous price objective of $70.00.
A number of other equities analysts have also recently commented on the company. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Mizuho boosted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Finally, Benchmark increased their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $87.81.
Check Out Our Latest Research Report on ZM
Zoom Video Communications Price Performance
Insider Activity at Zoom Video Communications
In related news, COO Aparna Bawa sold 10,520 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $68.59, for a total transaction of $721,566.80. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $135,671.02. This trade represents a 84.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $68.36, for a total value of $854,500.00. Following the completion of the sale, the director now owns 1,514 shares of the company’s stock, valued at approximately $103,497.04. The trade was a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 338,315 shares of company stock worth $26,197,660 over the last ninety days. Insiders own 10.78% of the company’s stock.
Institutional Trading of Zoom Video Communications
Several hedge funds have recently modified their holdings of ZM. FMR LLC raised its stake in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares during the period. State Street Corp increased its holdings in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares in the last quarter. AQR Capital Management LLC raised 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 worth $337,233,000 after purchasing an additional 2,520,987 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Zoom Video Communications by 4.4% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC grew its position in Zoom Video Communications by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after purchasing an additional 184,518 shares during the period. 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.
Featured Articles
- Five stocks we like better than Zoom Video Communications
- How to Use High Beta Stocks to Maximize Your Investing Profits
- MercadoLibre: Latin America’s Digital Titan Just Got Cheaper
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Breaking Down Pegasystems, A Wedbush Top AI Pick for 2025
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- Shutterstock and Getty: A $3.7 Billion Visual Content Giant
Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.