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

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

Zoom Video Communications Stock Up 1.5 %

Shares of ZM opened at $59.94 on Friday. The firm has a 50-day moving average price of $64.95 and a 200 day moving average price of $66.03. The firm has a market capitalization of $18.44 billion, a PE ratio of 29.38 and a beta of -0.07. Zoom Video Communications has a 52-week low of $58.87 and a 52-week high of $75.90.

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

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,421 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 90,001 shares of the company’s stock, valued at approximately $5,732,163.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Eric S. Yuan sold 2,421 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $5,732,163.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were 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 $5,896,777.20. The disclosure for this sale can be found here. Insiders sold 66,249 shares of company stock valued at $4,252,841 in the last 90 days. Company insiders own 11.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Zoom Video Communications by 63.3% in the first 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. Principal Securities Inc. purchased a new stake in shares of Zoom Video Communications in the fourth quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its position in shares of Zoom Video Communications by 269.7% in the fourth quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Neo Ivy Capital Management lifted its position in shares of Zoom Video Communications by 56.8% in the second 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. Finally, Covestor Ltd lifted its position in shares of Zoom Video Communications by 76.7% in the first 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. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on ZM shares. Mizuho lowered their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They issued a “hold” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Piper Sandler lifted their target price on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Finally, BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price on the stock. in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.56.

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.