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

Zoom Video Communications, Inc. (NASDAQ:ZM) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 60,783 call options on the stock. This represents an increase of approximately 108% compared to the typical volume of 29,253 call options.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 880 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is currently owned by insiders.

Institutional Trading of Zoom Video Communications

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $37,000. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications during the second quarter worth $33,000. Allworth Financial LP increased its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Zoom Video Communications in the second quarter valued at $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Zoom Video Communications in the second quarter valued at $41,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded up $1.95 during mid-day trading on Wednesday, reaching $85.36. 5,210,323 shares of the company were exchanged, compared to its average volume of 3,352,131. The firm has a market cap 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 1 year low of $55.06 and a 1 year high of $92.80. The firm’s 50-day simple moving average is $74.16 and its 200 day simple moving average is $65.89.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ZM shares. Wells Fargo & Company upped their target price on Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Mizuho raised their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Finally, Stifel Nicolaus upped their target price on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.19.

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.