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

Zoom Video Communications, Inc. (NASDAQ:ZM) saw some unusual options trading activity on Wednesday. Traders bought 111,754 put options on the company. This is an increase of approximately 266% compared to the typical volume of 30,516 put options.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the transaction, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Eric S. Yuan sold 27,963 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the completion of the sale, the chief executive officer now owns 95,140 shares in the company, valued at approximately $5,896,777.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 1,553 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the transaction, the insider now owns 71,956 shares of the company’s stock, valued at approximately $5,036,920. 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 in the last 90 days. 11.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZM. Global Wealth Management Investment Advisory Inc. increased its stake in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Neo Ivy Capital Management increased its stake in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Covestor Ltd increased its stake in Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock worth $46,000 after purchasing an additional 171 shares in the last quarter. Evoke Wealth LLC increased its stake in Zoom Video Communications by 3.5% in the 4th quarter. Evoke Wealth LLC now owns 5,066 shares of the company’s stock worth $364,000 after purchasing an additional 172 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in Zoom Video Communications by 1.8% in the 1st quarter. MML Investors Services LLC now owns 9,550 shares of the company’s stock worth $705,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the topic of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Mizuho cut their target price on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Wells Fargo & Company lowered Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 target price on the stock. in a research report on Wednesday, December 20th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Zoom Video Communications in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. dropped their price target 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. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $59.08 on Thursday. Zoom Video Communications has a 1 year low of $58.87 and a 1 year high of $75.90. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 28.96 and a beta of -0.07. The business has a fifty day moving average of $65.02 and a 200-day moving average of $66.07.

Zoom Video Communications (NASDAQ:ZM) last released 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 company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, equities research analysts predict that Zoom Video Communications will post 2.15 EPS for the current 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.