Forum Financial Management LP Invests $345,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Forum Financial Management LP acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,221 shares of the company's stock, valued at approximately $345,000.

Several other large investors also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its stake in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 258 shares during the period. Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications during the fourth quarter worth $39,000. Finally, MRP Capital Investments LLC grew its holdings in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after purchasing an additional 500 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 0.7 %

Shares of NASDAQ:ZM traded up $0.54 during mid-day trading on Friday, reaching $76.03. The company had a trading volume of 1,300,179 shares, compared to its average volume of 3,053,864. The company's 50-day moving average price is $74.20 and its 200-day moving average price is $78.75. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 5.48 and a beta of 0.67.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 16,099 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at $143,583.02. This represents a 89.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,897 shares of company stock worth $18,941,111 over the last ninety days. 10.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ZM. Mizuho cut their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Stifel Nicolaus cut their target price on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Citigroup decreased their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $85.90.

Zoom Video Communications 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.