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

Zoom Video Communications, Inc. (NASDAQ:ZM) saw some unusual options trading activity on Wednesday. Investors bought 60,783 call options on the stock. This represents an increase of 108% compared to the typical daily volume of 29,253 call options.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $1.95 during trading hours on Wednesday, hitting $85.36. The company had a trading volume of 5,210,323 shares, compared to its average volume of 3,352,131. The firm’s 50 day moving average is $74.16 and its 200 day moving average is $65.89. The company has a market capitalization of $26.27 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 7.60 and a beta of -0.05. Zoom Video Communications has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Analyst Ratings Changes

Several research firms have recently commented on ZM. Wedbush started coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. Robert W. Baird reduced their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Bank of America boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Sanford C. Bernstein increased their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.19.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the transaction, the chief executive officer now owns 85,514 shares in the company, valued at $5,847,447.32. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock worth $26,796,191 over the last three months. Insiders own 10.78% of the company’s stock.

Institutional Investors Weigh In On Zoom Video Communications

Several hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Zoom Video Communications during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Zoom Video Communications during the second quarter valued at about $36,000. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the third quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Zoom Video Communications in the second quarter worth about $41,000. Finally, Allworth Financial LP grew its stake in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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.