Zoom Communications (NASDAQ:ZM) Rating Increased to Hold at Wells Fargo & Company

Key Points

• Wells Fargo & Company has upgraded Zoom Communications to a "hold" rating, reflecting a more neutral outlook on the stock among analysts.
• Zoom currently holds a consensus rating of "Moderate Buy" with a target price averaging **$91.74**, while recently, 66.54% of its stock is owned by institutional investors.
• Insider trading reports indicate significant activity, including CEO Eric S. Yuan selling over **33,000 shares** at an average price of $74.79.

Zoom Communications (NASDAQ:ZM - Get Free Report) was upgraded by equities researchers at Wells Fargo & Company to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

ZM has been the subject of a number of other reports. Dbs Bank raised Zoom Communications to a "moderate buy" rating in a report on Tuesday, September 16th. Mizuho upped their target price on Zoom Communications from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Zoom Communications in a research report on Thursday, September 18th. William Blair reaffirmed an "outperform" rating on shares of Zoom Communications in a research report on Tuesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $100.00 price target on shares of Zoom Communications in a report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Zoom Communications currently has a consensus rating of "Moderate Buy" and an average target price of $91.74.

Zoom Communications Price Performance

ZM traded down $0.06 during trading on Tuesday, reaching $81.22. 131,223 shares of the stock were exchanged, compared to its average volume of 2,823,854. Zoom Communications has a 1 year low of $64.41 and a 1 year high of $92.80. The company has a market capitalization of $24.57 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 11.39 and a beta of 0.78. The business's 50 day moving average price is $78.85 and its two-hundred day moving average price is $77.45.

Insider Transactions at Zoom Communications

In other Zoom Communications news, CEO Eric S. Yuan sold 33,691 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $74.79, for a total transaction of $2,519,749.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 2,595 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $85.09, for a total value of $220,808.55. Following the transaction, the insider directly owned 130,242 shares of the company's stock, valued at approximately $11,082,291.78. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,925 shares of company stock worth $6,680,119 over the last quarter. Insiders own 11.51% of the company's stock.

Institutional Investors Weigh In On Zoom Communications

Large investors have recently modified their holdings of the stock. Wayfinding Financial LLC bought a new stake in shares of Zoom Communications during the 1st quarter worth $25,000. SouthState Corp bought a new stake in shares of Zoom Communications during the 1st quarter worth $25,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Zoom Communications during the 2nd quarter worth $27,000. REAP Financial Group LLC boosted its stake in shares of Zoom Communications by 181.7% during the 2nd quarter. REAP Financial Group LLC now owns 355 shares of the company's stock worth $28,000 after acquiring an additional 229 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Zoom Communications during the 1st quarter worth $31,000. 66.54% of the stock is owned by institutional investors.

About Zoom 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.

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