Zoom Video Communications Target of Unusually Large Options Trading (NASDAQ:ZM)

Zoom Video Communications, Inc. (NASDAQ:ZM) was the target of some unusual options trading activity on Tuesday. Traders bought 77,729 call options on the stock. This is an increase of approximately 57% compared to the average daily volume of 49,534 call options.

Insider Activity

In related news, Director Santiago Subotovsky sold 2,070 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $68.25, for a total value of $141,277.50. Following the completion of the transaction, the director now owns 174,162 shares in the company, valued at $11,886,556.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,070 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $68.25, for a total transaction of $141,277.50. Following the sale, the director now directly owns 174,162 shares in the company, valued at approximately $11,886,556.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $68.94, for a total transaction of $222,262.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,428 shares of company stock valued at $5,551,521. 11.28% of the stock is currently owned by company insiders.

Institutional Trading of Zoom Video Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Money Concepts Capital Corp boosted its holdings in shares of Zoom Video Communications by 821.2% during the fourth quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after acquiring an additional 427 shares during the period. Global Wealth Management Investment Advisory Inc. raised 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 worth $34,000 after buying an additional 114 shares during the period. Neo Ivy Capital Management raised 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 worth $39,000 after buying an additional 133 shares during the period. Allworth Financial LP grew its stake in Zoom Video Communications by 69.2% during the 1st quarter. Allworth Financial LP now owns 587 shares of the company’s stock valued at $43,000 after acquiring an additional 240 shares in the last quarter. Finally, Covestor Ltd grew its stake 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 acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, August 22nd. Moffett Nathanson raised Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 23rd. Citigroup increased their price target on Zoom Video Communications from $65.00 to $66.00 and gave the stock a “sell” rating in a report on Tuesday, August 22nd. Mizuho reiterated a “buy” rating and set a $100.00 price objective on shares of Zoom Video Communications in a report on Tuesday, August 22nd. Finally, Sanford C. Bernstein cut their price objective on Zoom Video Communications from $92.00 to $82.00 and set a “market perform” rating for the company in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $82.05.

Zoom Video Communications Stock Up 2.2 %

Shares of Zoom Video Communications stock opened at $73.28 on Wednesday. The company has a market capitalization of $22.05 billion, a P/E ratio of 166.55, a P/E/G ratio of 1.25 and a beta of -0.20. Zoom Video Communications has a 52-week low of $60.45 and a 52-week high of $89.67. The company has a 50 day moving average of $69.09 and a 200 day moving average of $68.51.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Monday, August 21st. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.28. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company posted $0.28 EPS. Zoom Video Communications’s revenue was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Zoom Video Communications will post 1.71 earnings per share for the current fiscal year.

About Zoom Video 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.