Stock Traders Purchase High Volume of Put Options on Zoom Video Communications (NASDAQ:ZM)

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) was the target of some unusual options trading on Wednesday. Stock traders acquired 111,754 put options on the company. This represents an increase of approximately 266% compared to the average daily volume of 30,516 put options.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded down $0.20 during trading hours on Wednesday, reaching $59.08. 2,033,409 shares of the company were exchanged, compared to its average volume of 3,330,789. Zoom Video Communications has a 1 year low of $58.87 and a 1 year high of $75.90. The stock's fifty day moving average is $65.02 and its 200 day moving average is $66.07. The firm has a market cap of $18.17 billion, a PE ratio of 28.96 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Research analysts expect that Zoom Video Communications will post 2.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZM has been the topic of several research analyst reports. Mizuho lowered their price objective on Zoom Video Communications from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. Rosenblatt Securities reiterated a "neutral" rating and issued a $75.00 price objective on shares of Zoom Video Communications in a report on Tuesday, March 26th. BNP Paribas cut 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. Wedbush restated a "neutral" rating and set a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Finally, Wells Fargo & Company cut Zoom Video Communications from an "equal weight" rating to an "underweight" rating and set a $70.00 target price on the stock. in a report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and an average target price of $77.56.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 12th. The stock was 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 in the company, valued at approximately $5,036,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Eric S. Yuan sold 27,963 shares of the firm'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 sale, the chief executive officer now directly owns 95,140 shares in the company, valued at approximately $5,896,777.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 1,553 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the sale, the insider now owns 71,956 shares in the company, valued at $5,036,920. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,456 shares of company stock worth $5,539,710. Insiders own 11.28% of the company's stock.

Hedge Funds Weigh In On Zoom Video Communications

Large investors have recently bought and sold shares of the business. Grimes & Company Inc. grew its holdings in shares of Zoom Video Communications by 2.7% during the first quarter. Grimes & Company Inc. now owns 167,512 shares of the company's stock worth $10,950,000 after purchasing an additional 4,473 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Zoom Video Communications by 128.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,038 shares of the company's stock worth $722,000 after purchasing an additional 6,206 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Zoom Video Communications during the first quarter worth about $1,075,000. FCF Advisors LLC grew its holdings in shares of Zoom Video Communications by 19.3% during the first quarter. FCF Advisors LLC now owns 15,604 shares of the company's stock worth $1,020,000 after purchasing an additional 2,524 shares during the last quarter. Finally, Guinness Asset Management LTD grew its holdings in shares of Zoom Video Communications by 6.4% during the first quarter. Guinness Asset Management LTD now owns 293,353 shares of the company's stock worth $19,183,000 after buying an additional 17,531 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

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.