Zoom Video Communications (NASDAQ:ZM) Shares Up 5.8% – Here’s Why

Zoom Video Communications, Inc. (NASDAQ:ZM)’s stock price was up 5.8% on Tuesday . The company traded as high as $87.78 and last traded at $86.77. Approximately 1,569,491 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 2,215,046 shares. The stock had previously closed at $82.00.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ZM shares. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus upped their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. UBS Group upped their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Barclays upped 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, November 27th. Sixteen 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.10.

Zoom Video Communications Stock Up 0.1 %

The business’s fifty day moving average is $82.94 and its two-hundred day moving average is $73.08. The stock has a market capitalization of $26.75 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 4.99 and a beta of -0.01.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,481 shares of company stock valued at $37,774,948. 10.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zoom Video Communications

Large investors have recently modified their holdings of the business. Global X Japan Co. Ltd. grew its stake in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the third quarter worth about $37,000. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Finally, Allworth Financial LP boosted its position in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares during the last quarter. Hedge funds and other 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.