4,221 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by Forum Financial Management LP

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

A number of other large investors have also modified their holdings of the business. Adero Partners LLC increased its holdings in shares of Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after purchasing an additional 129 shares during the last quarter. Principal Securities Inc. grew its holdings in Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after buying an additional 166 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after buying an additional 168 shares in the last quarter. Global X Japan Co. Ltd. increased its stake in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of Zoom Video Communications by 0.5% during the 4th quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company's stock worth $3,303,000 after acquiring an additional 215 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZM. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, May 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Thursday, May 22nd. Citigroup cut their price target on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Bank of America upped their price objective on Zoom Video Communications from $79.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Benchmark reissued a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, May 20th. Fifteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.61.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications 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 completion of the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $143,583.02. The trade was a 89.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 41,121 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $72.18, for a total value of $2,968,113.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Up 0.3%

Zoom Video Communications stock traded up $0.27 during mid-day trading on Thursday, reaching $79.94. 1,906,406 shares of the company's stock were exchanged, compared to its average volume of 2,977,634. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $24.40 billion, a P/E ratio of 26.65, a P/E/G ratio of 5.48 and a beta of 0.79. The company has a fifty day moving average of $76.19 and a 200-day moving average of $79.74.

Zoom Video Communications (NASDAQ:ZM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.13. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.35 earnings per share. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current fiscal year.

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.