Traders Buy Large Volume of Zoom Video Communications Put Options (NASDAQ:ZM)

Zoom Video Communications, Inc. (NASDAQ:ZM) was the recipient of unusually large options trading on Wednesday. Stock investors bought 111,754 put options on the stock. This is an increase of 266% compared to the typical volume of 30,516 put options.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler raised their target price on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Mizuho decreased their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Rosenblatt Securities raised Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday. Jefferies Financial Group assumed coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average price target of $77.56.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 816 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,734.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Aparna Bawa sold 816 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $131,734.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 2,421 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $63.69, for a total value of $154,193.49. Following the sale, the chief executive officer now directly owns 90,001 shares of the company’s stock, valued at $5,732,163.69. The disclosure for this sale can be found here. Insiders sold a total of 66,249 shares of company stock valued at $4,252,841 over the last ninety days. 11.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. increased its holdings in Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Principal Securities Inc. purchased a new position in Zoom Video Communications during the 4th quarter valued at about $25,000. Quadrant Capital Group LLC increased its holdings in Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Neo Ivy Capital Management increased its holdings in Zoom Video Communications by 56.8% during the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Finally, Covestor Ltd increased its holdings in Zoom Video Communications by 76.7% during the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 1.5 %

Shares of ZM stock opened at $59.94 on Friday. The business has a 50-day moving average price of $64.95 and a two-hundred day moving average price of $66.03. Zoom Video Communications has a 12-month low of $58.87 and a 12-month high of $75.90. The firm has a market cap of $18.44 billion, a P/E ratio of 29.38 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, research analysts expect that Zoom Video Communications will post 2.15 EPS for the current fiscal year.

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.