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

Zoom Video Communications, Inc. (NASDAQ:ZM) saw some unusual options trading on Wednesday. Investors bought 111,185 put options on the company. This is an increase of 271% compared to the typical volume of 29,982 put options.

Insider Activity

In related 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 transaction 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 approximately $131,734.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 transaction 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 approximately $131,734.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total value of $317,243.52. The disclosure for this sale can be found here. Insiders sold a total of 101,170 shares of company stock valued at $6,356,101 in the last ninety days. 10.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently modified their holdings of the company. Pearl River Capital LLC increased its holdings in shares of Zoom Video Communications by 31.6% during the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after acquiring an additional 8,928 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Zoom Video Communications by 3.4% during the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company’s stock valued at $32,231,000 after buying an additional 14,945 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after buying an additional 1,000,005 shares during the last quarter. Galvin Gaustad & Stein LLC boosted its position in shares of Zoom Video Communications by 25.4% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after buying an additional 66,433 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Zoom Video Communications by 556.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock valued at $8,923,000 after buying an additional 105,173 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $62.42 on Friday. The stock’s 50 day moving average is $63.12 and its 200 day moving average is $65.87. The firm has a market cap of $19.20 billion, a P/E ratio of 23.29 and a beta of -0.05. Zoom Video Communications has a one year low of $58.87 and a one year high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a return on equity of 10.84% and a net margin of 18.37%. Equities analysts anticipate that Zoom Video Communications will post 2.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZM has been the subject of several recent analyst reports. Citigroup increased their price objective on Zoom Video Communications from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Evercore ISI lowered their price objective on Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday. Jefferies Financial Group began coverage on Zoom Video Communications in a research report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on Zoom Video Communications from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.18.

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.