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

Zoom Video Communications, Inc. (NASDAQ:ZM) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 60,783 call options on the company. This is an increase of 108% compared to the average volume of 29,253 call options.

Analyst Ratings Changes

A number of brokerages have weighed in on ZM. UBS Group raised their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley raised their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Benchmark boosted their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their target price on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Piper Sandler lifted their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.19.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zoom Video Communications

Hedge funds and other institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. boosted its holdings in shares of Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares during the last quarter. MML Investors Services LLC raised its position in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after acquiring an additional 145 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the period. Finally, Menard Financial Group LLC increased its stake in shares of Zoom Video Communications by 4.0% in the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock worth $302,000 after purchasing an additional 166 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Up 2.3 %

Shares of ZM stock opened at $85.36 on Thursday. Zoom Video Communications has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market capitalization of $26.27 billion, a P/E ratio of 30.59, a P/E/G ratio of 7.60 and a beta of -0.05. The firm’s 50 day moving average is $74.55 and its 200 day moving average is $66.03.

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.