On April 10, 2023 at 10:52:29 ET an unusually large $3,062.13K block of Put contracts in Zoom Video Communications (ZM) was sold, with a strike price of $65.00 / share, expiring in 67 days (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 33.17 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in ZM options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 20.80% Upside

As of April 6, 2023, the average one-year price target for Zoom Video Communications is $86.80. The forecasts range from a low of $68.68 to a high of $110.25. The average price target represents an increase of 20.80% from its latest reported closing price of $71.85.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Zoom Video Communications is $4,751MM, an increase of 8.15%. The projected annual non-GAAP EPS is $3.73.

What is the Fund Sentiment?

There are 1186 funds or institutions reporting positions in Zoom Video Communications. This is a decrease of 8 owner(s) or 0.67% in the last quarter. Average portfolio weight of all funds dedicated to ZM is 0.26%, a decrease of 9.09%. Total shares owned by institutions increased in the last three months by 0.28% to 182,283K shares. The put/call ratio of ZM is 0.76, indicating a bullish outlook.

What are Large Shareholders Doing?

ARK Investment Management holds 10,616K shares representing 3.61% ownership of the company. In it’s prior filing, the firm reported owning 10,891K shares, representing a decrease of 2.59%. The firm increased its portfolio allocation in ZM by 11.55% over the last quarter.

ARKK – ARK Innovation ETF holds 8,457K shares representing 2.88% ownership of the company. In it’s prior filing, the firm reported owning 8,614K shares, representing a decrease of 1.85%. The firm decreased its portfolio allocation in ZM by 11.64% over the last quarter.

Baillie Gifford & holds 8,420K shares representing 2.87% ownership of the company. In it’s prior filing, the firm reported owning 8,467K shares, representing a decrease of 0.55%. The firm decreased its portfolio allocation in ZM by 7.47% over the last quarter.

Renaissance Technologies holds 7,020K shares representing 2.39% ownership of the company. In it’s prior filing, the firm reported owning 7,800K shares, representing a decrease of 11.12%. The firm decreased its portfolio allocation in ZM by 19.89% over the last quarter.

Sumitomo Mitsui Trust Holdings holds 6,424K shares representing 2.19% ownership of the company. In it’s prior filing, the firm reported owning 6,341K shares, representing an increase of 1.28%. The firm decreased its portfolio allocation in ZM by 10.15% over the last quarter.

Zoom Video Communications Background Information
(This description is provided by the company.)

Zoom Video Communications, Inc. brings teams together to get more done in a frictionless and secure video environment. Its easy, reliable, and innovative video-first unified communications platform provides video meetings, voice, webinars, and chat across desktops, phones, mobile devices, and conference room systems. Zoom helps enterprises create elevated experiences with leading business app integrations and developer tools to create customized workflows. Founded in 2011, Zoom is headquartered in San Jose, California, with offices around the world.

This article originally appeared on Fintel

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