ZOOM COMMUNICATIONS INC ZM
CL A · Common Stock · CUSIP 98980L101 · ISIN US98980L1017
Company responsible for the Zoom software
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($42.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $77.96. Options: 45 managers hold calls ($685.1m notional), 41 hold puts ($665.8m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 664 |
| Q4 2022 | 656 |
| Q1 2023 | 661 |
| Q2 2023 | 655 |
| Q3 2023 | 648 |
| Q4 2023 | 700 |
| Q1 2024 | 675 |
| Q2 2024 | 659 |
| Q3 2024 | 671 |
| Q4 2024 | 719 |
| Q1 2025 | 714 |
| Q2 2025 | 721 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 302 | 272 |
| Q4 2023 | 290 | 314 |
| Q1 2024 | 340 | 285 |
| Q2 2024 | 306 | 324 |
| Q3 2024 | 338 | 281 |
| Q4 2024 | 323 | 298 |
| Q1 2025 | 358 | 300 |
| Q2 2025 | 383 | 295 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $839.5m | $728.2m | 0.87 |
| Q4 2024 | $1.5bn | $1.0bn | 0.69 |
| Q1 2025 | $703.7m | $741.1m | 1.05 |
| Q2 2025 | $685.1m | $665.8m | 0.97 |
Biggest buyers
| Qube Research & Technologies Ltd | Added | +1.3m |
| ROYAL BANK OF CANADA | Added | +1.1m |
| ACADIAN ASSET MANAGEMENT LLC | Added | +1.1m |
| FMR LLC | Added | +969.0k |
| MILLENNIUM MANAGEMENT LLC | Added | +845.5k |
| Robeco Institutional Asset Management B.V. | Added | +830.4k |
| NORGES BANK | Added | +715.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +593.7k |
| GOLDMAN SACHS GROUP INC | Added | +538.0k |
| Freestone Grove Partners LP | Added | +513.8k |
Biggest sellers
| Newlands Management Operations LLC | Reduced | -2.0m |
| BlackRock, Inc. | Reduced | -977.8k |
| Balyasny Asset Management L.P. | Reduced | -779.5k |
| HSBC HOLDINGS PLC | Reduced | -725.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -703.8k |
| Assenagon Asset Management S.A. | Reduced | -665.6k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -536.4k |
| JPMORGAN CHASE & CO | Reduced | -511.8k |
| TWO SIGMA ADVISERS, LP | Reduced | -478.7k |
| Junto Capital Management LP | Reduced | -421.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $169.5m2.2m shares |
| CITADEL ADVISORS LLC | Reduced | $76.1m975.3k shares |
| UBS Group AG | Reduced | $57.4m736.4k shares |
| IMC-Chicago, LLC | Reduced | $41.3m529.7k shares |
| Walleye Trading LLC | Added | $36.6m468.8k shares |
| JANE STREET GROUP, LLC | Reduced | $35.9m460.8k shares |
| Twin Tree Management, LP | Added | $33.0m423.8k shares |
| Oribel Capital Management, LP | New | $30.5m390.6k shares |
| PEAK6 LLC | Added | $25.3m324.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $19.4m248.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $132.0m1.7m shares |
| UBS Group AG | Reduced | $112.9m1.4m shares |
| Balyasny Asset Management L.P. | Reduced | $47.9m614.5k shares |
| CITADEL ADVISORS LLC | Reduced | $43.3m555.3k shares |
| Twin Tree Management, LP | Reduced | $39.6m507.3k shares |
| IMC-Chicago, LLC | Added | $35.0m448.8k shares |
| JANE STREET GROUP, LLC | Added | $34.8m446.2k shares |
| Walleye Trading LLC | Added | $30.6m391.9k shares |
| BANK OF AMERICA CORP /DE/ | Added | $18.5m236.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $17.7m227.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-02-05 | 6.7% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.2% |
Fell to 5% or below in the last year: VANGUARD PORTFOLIO MANAGEMENT LLC (5.0%, 2026-07-31; now reported by VANGUARD CAPITAL MANAGEMENT LLC), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 7 | $8.7m | $7.9m |
| Q4 2023 | 0 | — | 6 | $13.7m | $13.7m |
| Q1 2024 | 0 | — | 6 | $6.5m | $6.5m |
| Q2 2024 | 0 | — | 6 | $8.1m | $8.0m |
| Q3 2024 | 0 | — | 5 | $10.1m | $9.2m |
| Q4 2024 | 0 | — | 8 | $50.3m | $47.3m |
| Q1 2025 | 0 | — | 6 | $50.3m | $46.0m |
| Q2 2025 | 0 | — | 6 | $7.8m | $7.8m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-13 | Napolitano Janet Director | Sold plan | $200.9k2.6k shares |
| 2025-06-10 | Sankarlingam Velchamy Pres. of Engineering & Product | Sold plan | $208.3k2.6k shares |
| 2025-06-03 | Subotovsky Santiago Director | Sold plan | $199.7k2.5k shares |
| 2025-05-05 | Subotovsky Santiago Director | Sold plan | $195.1k2.5k shares |
| 2025-04-24 | Chadwick Jonathan Director | Sold plan | $937.9k12.5k shares |
| 2025-04-24 | Subotovsky Santiago Director | Sold plan | $186.7k2.5k shares |
| 2025-04-15 | Bawa Aparna Chief Operating Officer · See footnote | Sold plan | $1.2m16.1k shares |
| 2025-04-15 | Chadwick Jonathan Director | Sold plan | $907.1k12.5k shares |
| 2025-04-15 | Sankarlingam Velchamy Pres. of Engineering & Product | Sold plan | $851.3k11.8k shares |
| 2025-04-14 | Yuan Eric S. Chief Executive Officer, director · See footnote | Sold plan | $3.0m41.1k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.03% of their portfolio | 25.0m $1.9bn | Added +154.8k |
| BlackRock, Inc. 0.02% of their portfolio | 16.6m $1.3bn | Reduced -977.8k |
| FMR LLC 0.05% of their portfolio | 10.5m $816.1m | Added +969.0k |
| STATE STREET CORP 0.02% of their portfolio | 7.2m $560.6m | Added +410.1k |
| NORGES BANK 0.07% of their portfolio | 6.9m $540.0m | Added +715.2k |
| AQR CAPITAL MANAGEMENT LLC 0.44% of their portfolio | 6.9m $535.2m | Reduced -536.4k |
| T. Rowe Price Investment Management, Inc. 0.32% of their portfolio | 6.5m $507.4m | Added +84.9k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 5.0m $387.2m | Reduced -511.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 4.8m $373.5m | Added +23.9k |
| ACADIAN ASSET MANAGEMENT LLC 0.61% of their portfolio | 3.8m $293.9m | Added +1.1m |
| Newlands Management Operations LLC 1.55% of their portfolio | 3.8m $293.3m | Reduced -2.0m |
| RENAISSANCE TECHNOLOGIES LLC 0.37% of their portfolio | 3.6m $280.7m | Reduced -31.7k |
| FIL Ltd 0.22% of their portfolio | 3.3m $260.7m | Added +3.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 3.1m $241.2m | Reduced -703.8k |
| Robeco Institutional Asset Management B.V. 0.27% of their portfolio | 2.1m $166.7m | Added +830.4k |
| Altshuler Shaham Ltd 5.06% of their portfolio | 2.0m $159.0m | Reduced -15.8k |
| Qube Research & Technologies Ltd 0.20% of their portfolio | 1.9m $146.0m | Added +1.3m |
| Legal & General Group Plc 0.04% of their portfolio | 1.9m $145.9m | Added +1.4k |
| VICTORY CAPITAL MANAGEMENT INC 0.09% of their portfolio | 1.9m $144.6m | Added +449.6k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.10% of their portfolio | 1.8m $141.1m | Added +593.7k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 1.8m $139.0m | Added +102.5k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.8m $138.1m | Reduced -10.5k |
| Pacer Advisors, Inc. 0.34% of their portfolio | 1.7m $136.1m | Reduced -249.2k |
| Caisse de depot et placement du Quebec 0.27% of their portfolio | 1.6m $128.2m | Added +244.9k |
| KBC Group NV 0.34% of their portfolio | 1.6m $126.5m | Reduced -136.7k |
| MORGAN STANLEY 0.01% of their portfolio | 1.6m $126.2m | Added +88.6k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 1.6m $122.4m | Added +1.1m |
| FIRST TRUST ADVISORS LP 0.10% of their portfolio | 1.5m $119.6m | Added +118.8k |
| UBS Group AG 0.02% of their portfolio | 1.4m $105.8m | Added +61.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.3m $104.9m | Reduced -42.7k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.3m $99.3m | Added +538.0k |
| RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio | 1.3m $98.2m | Reduced -27.9k |
| Allianz Asset Management GmbH 0.13% of their portfolio | 1.2m $95.4m | Added +111.0k |
| PRIMECAP MANAGEMENT CO/CA/ 0.07% of their portfolio | 1.2m $92.2m | Reduced -20.6k |
| Comprehensive Financial Management LLC 2.55% of their portfolio | 1.2m $91.3m | Unchanged |
| California Public Employees Retirement System 0.05% of their portfolio | 1.1m $83.4m | Reduced -190.3k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.0m $80.5m | Reduced -20.3k |
| LSV ASSET MANAGEMENT 0.19% of their portfolio | 1.0m $79.5m | Added +112.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 981.3k $76.5m | Added +48.0k |
| Balyasny Asset Management L.P. 0.17% of their portfolio | 978.8k $76.3m | Reduced -779.5k |
| CITIGROUP INC 0.05% of their portfolio | 950.5k $74.1m | Added +357.2k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 913.3k $71.2m | Added +845.5k |
| Amundi 0.02% of their portfolio | 873.9k $67.8m | Added +235.6k |
| NORDEA INVESTMENT MANAGEMENT AB 0.06% of their portfolio | 864.5k $67.1m | Added +20.6k |
| D. E. Shaw & Co., Inc. 0.07% of their portfolio | 858.0k $66.9m | Added +302.6k |
| CITADEL ADVISORS LLC 0.06% of their portfolio | 840.1k $65.5m | Reduced -78.2k |
| Freestone Grove Partners LP 0.46% of their portfolio | 784.2k $61.1m | Added +513.8k |
| Swiss National Bank 0.04% of their portfolio | 760.2k $59.3m | Added +56.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 744.6k $58.1m | Added +185.6k |
| Invesco Ltd. 0.01% of their portfolio | 730.2k $56.9m | Added +47.7k |
| Handelsbanken Fonder AB 0.20% of their portfolio | 719.1k $56.1m | Added +465.4k |
| Retirement Systems of Alabama 0.20% of their portfolio | 704.6k $54.9m | Reduced -12.5k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 639.4k $49.9m | Reduced -192.4k |
| PANAGORA ASSET MANAGEMENT INC 0.22% of their portfolio | 632.2k $49.3m | Added +379.2k |
| National Pension Service 0.04% of their portfolio | 621.9k $48.5m | Reduced -446 |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 605.2k $47.1m | Reduced -725.7k |
| Alyeska Investment Group, L.P. 0.16% of their portfolio | 584.6k $45.6m | Added +485.1k |
| Man Group plc 0.10% of their portfolio | 576.5k $45.0m | Reduced -56.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 571.6k $44.6m | Reduced -13.2k |
| STOREBRAND ASSET MANAGEMENT AS 0.13% of their portfolio | 558.6k $43.6m | Added +216.8k |
| TD Asset Management Inc 0.04% of their portfolio | 547.6k $42.7m | Reduced -22.8k |
| DekaBank Deutsche Girozentrale 0.08% of their portfolio | 537.6k $42.5m | Added +8.6k |
| PRUDENTIAL FINANCIAL INC 0.05% of their portfolio | 527.0k $41.1m | Reduced -94.4k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 511.3k $39.9m | Reduced -12.2k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.26% of their portfolio | 489.4k $38.2m | Reduced -143.6k |
| Skandinaviska Enskilda Banken AB (publ) 0.16% of their portfolio | 465.0k $36.3m | Added +309.2k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 457.6k $35.7m | Added +268.5k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 450.2k $35.1m | Added +146.9k |
| Junto Capital Management LP 0.74% of their portfolio | 447.3k $34.9m | Reduced -421.2k |
| KLP KAPITALFORVALTNING AS 0.15% of their portfolio | 436.3k $34.0m | Added +111.3k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 427.0k $33.4m | Added +34.4k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.10% of their portfolio | 417.0k $32.5m | Reduced -142.8k |
| Quantinno Capital Management LP 0.13% of their portfolio | 393.3k $30.7m | Added +73.3k |
| Nuveen, LLC 0.01% of their portfolio | 386.6k $30.1m | Reduced -123.8k |
| Assenagon Asset Management S.A. 0.05% of their portfolio | 382.2k $29.8m | Reduced -665.6k |
| JANE STREET GROUP, LLC 0.05% of their portfolio | 368.8k $28.8m | Added +100.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 363.2k $28.3m | Reduced -21.4k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.07% of their portfolio | 357.6k $27.9m | Added +203.6k |
| Mitsubishi UFJ Trust & Banking Corp 0.06% of their portfolio | 357.2k $27.9m | Added +3.6k |
| JUPITER ASSET MANAGEMENT LTD 0.22% of their portfolio | 334.2k $26.1m | Added +159.2k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.06% of their portfolio | 323.9k $25.3m | Added +11.5k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 314.2k $24.5m | Added +50.1k |
| BARCLAYS PLC 0.01% of their portfolio | 301.7k $23.5m | Added +20.1k |
| Alta Park Capital, LP 2.83% of their portfolio | 294.9k $23.0m | Added +66.6k |
| Avory & Company, LLC 13.88% of their portfolio | 291.9k $22.8m | Reduced -3.9k |
| Illinois Municipal Retirement Fund 0.31% of their portfolio | 291.6k $22.7m | Added +66.2k |
| NAN FUNG TRINITY (HK) LTD 2.67% of their portfolio | 285.7k $22.3m | Unchanged |
| MARTINGALE ASSET MANAGEMENT L P 0.53% of their portfolio | 275.0k $21.4m | Reduced -2.4k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.09% of their portfolio | 268.0k $20.9m | Reduced -81.7k |
| Treasurer of the State of North Carolina 0.07% of their portfolio | 266.5k $20.8m | Added +101.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio | 262.4k $20.5m | Added +22.0k |
| CANADA LIFE ASSURANCE Co 0.03% of their portfolio | 261.8k $20.4m | Added +34.1k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 260.4k $20.3m | Reduced -175.6k |
| Glenmede Investment Management, LP 0.10% of their portfolio | 258.9k $20.2m | First filing |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 258.2k $20.1m | Added +3.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 256.5k $20.0m | Added +107.7k |
| Aberdeen Group plc 0.03% of their portfolio | 241.6k $18.8m | Added +11.7k |
| Gotham Asset Management, LLC 0.11% of their portfolio | 238.8k $18.6m | Added +102.7k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.03% of their portfolio | 229.2k $17.9m | Added +4.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 228.1k $17.8m | Added +6.0k |