Zoom Video Communications Sees Unusually Large Options Volume (NASDAQ:ZM)

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

Analysts Set New Price Targets

A number of research firms recently commented on ZM. Wedbush assumed coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. 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 report on Tuesday. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group upped their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $85.36 on Friday. The firm’s 50 day simple moving average is $74.92 and its 200 day simple moving average is $66.16. Zoom Video Communications has a one year low of $55.06 and a one year high of $92.80. The company has a market cap of $26.27 billion, a PE ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05.

Insider Activity

In other news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 three months, insiders sold 367,108 shares of company stock valued at $26,796,191. Insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. State Street Corp lifted its stake in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares during the period. AQR Capital Management LLC grew its position in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after acquiring an additional 2,520,987 shares during the period. Pacer Advisors Inc. grew its stake in Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after acquiring an additional 233,241 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares in the last quarter. 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.