Zoom Communications (NASDAQ:ZM) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Zoom Communications (NASDAQ:ZM) to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. KeyCorp cut their price objective on shares of Zoom Communications from $73.00 to $69.00 and set an “underweight” rating on the stock in a report on Friday, August 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Zoom Communications in a report on Thursday, September 18th. Wall Street Zen raised shares of Zoom Communications from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 28th. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Zoom Communications in a research report on Thursday, September 18th. Finally, Dbs Bank upgraded shares of Zoom Communications to a “moderate buy” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.74.

Zoom Communications Stock Up 1.2%

Shares of NASDAQ:ZM opened at $82.24 on Tuesday. The firm’s 50 day moving average price is $78.98 and its 200 day moving average price is $77.50. The stock has a market cap of $24.88 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 11.22 and a beta of 0.78. Zoom Communications has a fifty-two week low of $64.41 and a fifty-two week high of $92.80.

Insider Buying and Selling

In other Zoom Communications news, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.86, for a total transaction of $1,871,500.00. Following the sale, the director directly owned 5,875 shares in the company, valued at approximately $439,802.50. The trade was a 80.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 7,661 shares of the business’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $77.50, for a total transaction of $593,727.50. Following the sale, the insider owned 129,377 shares in the company, valued at $10,026,717.50. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,925 shares of company stock worth $6,680,119 in the last ninety days. Insiders own 11.51% of the company’s stock.

Institutional Investors Weigh In On Zoom Communications

Institutional investors have recently made changes to their positions in the stock. Wedmont Private Capital boosted its position in shares of Zoom Communications by 4.1% in the 2nd quarter. Wedmont Private Capital now owns 3,499 shares of the company’s stock worth $271,000 after buying an additional 137 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Zoom Communications by 6.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,293 shares of the company’s stock worth $172,000 after buying an additional 143 shares in the last quarter. Wynn Capital LLC boosted its position in shares of Zoom Communications by 1.6% in the 1st quarter. Wynn Capital LLC now owns 10,194 shares of the company’s stock worth $752,000 after buying an additional 160 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Zoom Communications by 12.6% in the 2nd quarter. Penserra Capital Management LLC now owns 1,446 shares of the company’s stock worth $111,000 after buying an additional 162 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Zoom Communications by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 24,298 shares of the company’s stock worth $1,792,000 after buying an additional 171 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom 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.