Zoom Video Communications (NASDAQ:ZM) Given New $80.00 Price Target at Barclays

Zoom Video Communications (NASDAQ:ZM) had its price target trimmed by Barclays from $85.00 to $80.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

ZM has been the subject of a number of other research reports. Benchmark restated a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Mizuho raised their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. UBS Group cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday. Finally, Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $89.57.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $74.15 on Wednesday. The firm has a 50 day moving average price of $82.76 and a 200 day moving average price of $76.66. The stock has a market cap of $22.73 billion and a P/E ratio of 24.72. Zoom Video Communications has a 52-week low of $55.06 and a 52-week high of $92.80.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZM. Adero Partners LLC raised its stake in Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after acquiring an additional 129 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the last quarter. MML Investors Services LLC raised its position in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after purchasing an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the last quarter. 66.54% of the stock is currently 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.