Zoom Video Communications Target of Unusually Large Options Trading (NASDAQ:ZM)
Zoom Video Communications, Inc. (NASDAQ:ZM – Get Free Report) was the recipient of some unusual options trading on Monday. Stock traders acquired 91,844 put options on the stock. This is an increase of approximately 46% compared to the typical daily volume of 63,091 put options.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Zoom Video Communications from $85.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, August 22nd. Rosenblatt Securities reiterated a “neutral” rating and set a $75.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Piper Sandler lowered their price target on Zoom Video Communications from $76.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, November 21st. Benchmark reiterated a “buy” rating and issued a $83.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 21st. Finally, HSBC assumed coverage on shares of Zoom Video Communications in a report on Friday, September 15th. They issued a “buy” rating and a $83.00 price target on the stock. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.84.
Check Out Our Latest Report on ZM
Insider Activity
In other news, Director Santiago Subotovsky sold 2,067 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $73.49, for a total transaction of $151,903.83. Following the transaction, the director now owns 167,961 shares of the company’s stock, valued at approximately $12,343,453.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,586 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $70.69, for a total value of $112,114.34. Following the transaction, the insider now owns 58,306 shares of the company’s stock, valued at approximately $4,121,651.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,067 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $73.49, for a total value of $151,903.83. Following the completion of the transaction, the director now directly owns 167,961 shares in the company, valued at approximately $12,343,453.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,442 shares of company stock valued at $10,516,230. 11.28% of the stock is currently owned by insiders.
Institutional Trading of Zoom Video Communications
Several large investors have recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Zoom Video Communications by 94.3% during the first quarter. US Bancorp DE now owns 5,654 shares of the company’s stock valued at $417,000 after acquiring an additional 2,744 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in Zoom Video Communications during the second quarter worth about $275,000. Achmea Investment Management B.V. lifted its position in Zoom Video Communications by 31.8% during the second quarter. Achmea Investment Management B.V. now owns 23,847 shares of the company’s stock worth $1,619,000 after buying an additional 5,748 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Zoom Video Communications by 4.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 4,479 shares of the company’s stock worth $304,000 after buying an additional 172 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Zoom Video Communications by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 1,347,864 shares of the company’s stock worth $99,526,000 after buying an additional 9,413 shares during the period. Institutional investors and hedge funds own 54.85% of the company’s stock.
Zoom Video Communications Price Performance
Shares of Zoom Video Communications stock traded down $2.87 on Monday, reaching $67.42. 3,243,155 shares of the company were exchanged, compared to its average volume of 3,776,797. The stock’s 50 day moving average price is $64.20 and its 200-day moving average price is $67.25. The company has a market cap of $20.29 billion, a P/E ratio of 96.29, a price-to-earnings-growth ratio of 1.02 and a beta of -0.09. Zoom Video Communications has a 1-year low of $58.87 and a 1-year high of $85.13.
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last released its quarterly earnings data on Monday, November 20th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.21. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Zoom Video Communications had a return on equity of 4.93% and a net margin of 5.21%. Zoom Video Communications’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, research analysts predict that Zoom Video Communications will post 2.06 earnings per share for the current fiscal year.
Zoom Video Communications Company Profile (Get Free Report)
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.
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