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

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) saw unusually large options trading activity on Wednesday. Traders bought 111,185 put options on the stock. This is an increase of 271% compared to the average daily volume of 29,982 put options.

Zoom Video Communications Stock Up 0.8 %

Shares of Zoom Video Communications stock traded up $0.52 on Wednesday, hitting $64.38. The stock had a trading volume of 2,985,189 shares, compared to its average volume of 3,291,771. The stock's 50-day simple moving average is $63.21 and its two-hundred day simple moving average is $65.90. Zoom Video Communications has a one year low of $58.87 and a one year high of $75.90. The stock has a market cap of $19.80 billion, a price-to-earnings ratio of 24.02 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last posted its 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 10.84% and a net margin of 18.37%. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. As a group, equities analysts predict that Zoom Video Communications will post 2.15 EPS for the current fiscal year.

Analyst Ratings Changes

ZM has been the subject of several research reports. Robert W. Baird reduced their price objective on Zoom Video Communications from $90.00 to $84.00 and set an "outperform" rating for the company in a report on Tuesday. Sanford C. Bernstein decreased their price objective on Zoom Video Communications from $82.00 to $78.00 and set a "market perform" rating for the company in a report on Tuesday. Wedbush reaffirmed a "neutral" rating and set a $80.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 27th. Wells Fargo & Company reduced their target price on shares of Zoom Video Communications from $70.00 to $60.00 and set an "underweight" rating for the company in a research note on Tuesday. Finally, Rosenblatt Securities upped their price target on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of "Hold" and a consensus target price of $76.67.

Insider Transactions at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $63.36, for a total value of $317,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.36, for a total value of $317,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Santiago Subotovsky sold 2,067 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $69.83, for a total transaction of $144,338.61. Following the transaction, the director now owns 155,559 shares in the company, valued at $10,862,684.97. The disclosure for this sale can be found here. Insiders sold a total of 101,170 shares of company stock valued at $6,356,101 over the last three months. Corporate insiders own 10.78% of the company's stock.

Hedge Funds Weigh In On Zoom Video Communications

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pearl River Capital LLC lifted its position in Zoom Video Communications by 31.6% during the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company's stock valued at $2,601,000 after buying an additional 8,928 shares during the period. California Public Employees Retirement System boosted its stake in Zoom Video Communications by 3.4% during the third quarter. California Public Employees Retirement System now owns 460,836 shares of the company's stock worth $32,231,000 after acquiring an additional 14,945 shares in the last quarter. Vanguard Group Inc. boosted its stake in Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company's stock worth $1,587,326,000 after acquiring an additional 1,000,005 shares in the last quarter. Galvin Gaustad & Stein LLC increased its stake in shares of Zoom Video Communications by 25.4% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company's stock valued at $23,590,000 after purchasing an additional 66,433 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Zoom Video Communications by 556.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company's stock valued at $8,923,000 after purchasing an additional 105,173 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

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.