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

Zoom Video Communications, Inc. (NASDAQ:ZM) saw unusually large options trading on Wednesday. Stock investors purchased 60,783 call options on the company. This represents an increase of 108% compared to the average volume of 29,253 call options.

Insider Buying and Selling

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,614 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock worth $26,796,191 in the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its holdings in Zoom Video Communications by 53.6% during the 3rd quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock valued at $22,537,000 after buying an additional 115,837 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in shares of Zoom Video Communications during the third quarter valued at about $2,653,000. Sanctuary Advisors LLC boosted its holdings in shares of Zoom Video Communications by 22.1% during the third quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock worth $1,047,000 after purchasing an additional 2,714 shares during the period. Hohimer Wealth Management LLC grew its stake in shares of Zoom Video Communications by 0.5% in the third quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock worth $3,455,000 after purchasing an additional 260 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in Zoom Video Communications by 32.1% during the 3rd quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock valued at $2,229,000 after purchasing an additional 7,768 shares during the period. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Up 2.3 %

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

Wall Street Analysts Forecast Growth

Several analysts have commented on ZM shares. Stifel Nicolaus lifted their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Bank of America raised their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group upped their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target 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.