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 ($99.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $82.50. Options: 44 managers hold calls ($755.4m notional), 44 hold puts ($831.6m).
Trends to Q3 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 |
| Q3 2025 | 754 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q3 2025 | 387 | 307 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $1.5bn | $1.0bn | 0.69 |
| Q1 2025 | $703.7m | $741.1m | 1.05 |
| Q2 2025 | $685.1m | $665.8m | 0.97 |
| Q3 2025 | $755.4m | $831.6m | 1.10 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +5.3m |
| ACADIAN ASSET MANAGEMENT LLC | Added | +1.8m |
| AQR CAPITAL MANAGEMENT LLC | Added | +1.6m |
| Evergreen Quality Fund GP, Ltd. | New | +1.3m |
| TWO SIGMA INVESTMENTS, LP | New | +1.1m |
| VANGUARD GROUP INC | Added | +986.2k |
| Pacer Advisors, Inc. | Added | +949.8k |
| WORLDQUANT MILLENNIUM ADVISORS LLC | Added | +928.4k |
| MORGAN STANLEY | Added | +860.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +836.6k |
Biggest sellers
| Newlands Management Operations LLC | Sold out | -3.8m |
| T. Rowe Price Investment Management, Inc. | Reduced | -2.2m |
| ROYAL BANK OF CANADA | Reduced | -994.1k |
| KBC Group NV | Reduced | -963.3k |
| Balyasny Asset Management L.P. | Reduced | -844.2k |
| CITIGROUP INC | Reduced | -747.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -489.1k |
| Quantinno Capital Management LP | Sold out | -393.3k |
| GOLDMAN SACHS GROUP INC | Reduced | -382.8k |
| RAYMOND JAMES FINANCIAL INC | Reduced | -375.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $225.4m2.7m shares |
| CITADEL ADVISORS LLC | Added | $85.6m1.0m shares |
| UBS Group AG | Added | $65.3m791.4k shares |
| IMC-Chicago, LLC | Added | $47.2m572.5k shares |
| JANE STREET GROUP, LLC | Added | $41.0m497.0k shares |
| SIMPLEX TRADING, LLC | Added | $35.7m432.6k shares |
| Twin Tree Management, LP | Reduced | $31.0m375.6k shares |
| JPMORGAN CHASE & CO | Added | $30.1m365.2k shares |
| GOLDMAN SACHS GROUP INC | Added | $21.4m259.5k shares |
| PEAK6 LLC | Reduced | $18.9m229.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $145.9m1.8m shares |
| UBS Group AG | Added | $141.1m1.7m shares |
| CITADEL ADVISORS LLC | Added | $82.3m997.9k shares |
| IMC-Chicago, LLC | Added | $47.4m574.2k shares |
| Balyasny Asset Management L.P. | Reduced | $37.8m458.7k shares |
| JPMORGAN CHASE & CO | Added | $36.2m438.8k shares |
| GOLDMAN SACHS GROUP INC | Added | $34.0m412.0k shares |
| Walleye Trading LLC | Reduced | $27.8m336.9k shares |
| Twin Tree Management, LP | Reduced | $26.9m325.7k shares |
| JANE STREET GROUP, LLC | Reduced | $26.2m317.7k 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 Q3 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 |
|---|---|---|---|---|---|
| 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 |
| Q3 2025 | 0 | — | 6 | $6.9m | $6.9m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-09-10 | Sankarlingam Velchamy Pres. of Engineering & Product | Sold plan | $220.8k2.6k shares |
| 2025-09-05 | Subotovsky Santiago Director | Sold plan | $206.4k2.5k shares |
| 2025-08-26 | Subotovsky Santiago Director | Sold plan | $197.1k2.5k shares |
| 2025-08-25 | McMaster Herbert Raymond Director | Sold plan | $166.0k2.0k shares |
| 2025-08-22 | McMaster Herbert Raymond Director | Sold plan | $80.0k1.0k shares |
| 2025-07-15 | Chadwick Jonathan Director | Sold plan | $1.9m25.0k shares |
| 2025-07-14 | Yuan Eric S. Chief Executive Officer, director · See footnote | Sold plan | $2.5m33.7k shares |
| 2025-07-14 | Bawa Aparna Chief Operating Officer · See footnote | Sold plan | $787.3k10.5k shares |
| 2025-07-14 | McMaster Herbert Raymond Director | Sold plan | $37.5k500 shares |
| 2025-07-10 | Sankarlingam Velchamy Pres. of Engineering & Product | Sold plan | $593.7k7.7k shares |
| 2025-07-02 | Subotovsky Santiago Director | Sold plan | $191.0k2.5k 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, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.03% of their portfolio | 25.9m $2.1bn | Added +986.2k |
| BlackRock, Inc. 0.02% of their portfolio | 16.6m $1.4bn | Reduced -71.6k |
| FMR LLC 0.04% of their portfolio | 10.4m $854.3m | Reduced -110.5k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 10.3m $849.2m | Added +5.3m |
| AQR CAPITAL MANAGEMENT LLC 0.45% of their portfolio | 8.5m $699.4m | Added +1.6m |
| STATE STREET CORP 0.02% of their portfolio | 7.2m $595.6m | Added +29.6k |
| ACADIAN ASSET MANAGEMENT LLC 0.81% of their portfolio | 5.6m $461.4m | Added +1.8m |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 5.0m $412.7m | Added +191.4k |
| T. Rowe Price Investment Management, Inc. 0.22% of their portfolio | 4.3m $354.5m | Reduced -2.2m |
| RENAISSANCE TECHNOLOGIES LLC 0.44% of their portfolio | 4.0m $330.4m | Added +405.0k |
| FIL Ltd 0.21% of their portfolio | 3.3m $270.0m | Reduced -69.8k |
| Pacer Advisors, Inc. 0.57% of their portfolio | 2.7m $222.4m | Added +949.8k |
| Qube Research & Technologies Ltd 0.31% of their portfolio | 2.7m $219.6m | Added +789.1k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.14% of their portfolio | 2.6m $218.3m | Added +836.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 2.6m $214.8m | Reduced -489.1k |
| MORGAN STANLEY 0.01% of their portfolio | 2.5m $204.5m | Added +860.3k |
| Robeco Institutional Asset Management B.V. 0.29% of their portfolio | 2.4m $198.5m | Added +269.0k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 2.2m $180.0m | Added +399.4k |
| Altshuler Shaham Ltd 2.76% of their portfolio | 2.0m $166.6m | Reduced -20.4k |
| Legal & General Group Plc 0.04% of their portfolio | 2.0m $165.4m | Added +134.1k |
| Allianz Asset Management GmbH 0.19% of their portfolio | 1.8m $150.7m | Added +603.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.08% of their portfolio | 1.7m $143.6m | Reduced -113.9k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.7m $141.2m | Reduced -59.5k |
| Amundi 0.04% of their portfolio | 1.6m $132.7m | Added +763.8k |
| UBS Group AG 0.03% of their portfolio | 1.6m $128.7m | Added +202.4k |
| FIRST TRUST ADVISORS LP 0.09% of their portfolio | 1.5m $122.8m | Reduced -44.5k |
| Caisse de depot et placement du Quebec 0.22% of their portfolio | 1.5m $122.2m | Reduced -163.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.3m $110.6m | Reduced -4.2k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 1.3m $110.5m | Added +699.5k |
| Evergreen Quality Fund GP, Ltd. 2.34% of their portfolio | 1.3m $105.5m | New |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.3m $103.3m | Added +270.3k |
| Man Group plc 0.19% of their portfolio | 1.2m $98.9m | Added +622.4k |
| PRIMECAP MANAGEMENT CO/CA/ 0.07% of their portfolio | 1.2m $97.1m | Reduced -5.7k |
| Comprehensive Financial Management LLC 2.67% of their portfolio | 1.2m $96.6m | Unchanged |
| PANAGORA ASSET MANAGEMENT INC 0.38% of their portfolio | 1.1m $93.4m | Added +500.2k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.39% of their portfolio | 1.1m $89.9m | Added +928.4k |
| LSV ASSET MANAGEMENT 0.19% of their portfolio | 1.1m $88.2m | Added +50.6k |
| TWO SIGMA INVESTMENTS, LP 0.13% of their portfolio | 1.1m $86.7m | New |
| Assenagon Asset Management S.A. 0.12% of their portfolio | 1.0m $84.6m | Added +643.1k |
| Handelsbanken Fonder AB 0.25% of their portfolio | 959.5k $79.2m | Added +240.4k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 942.6k $77.8m | Reduced -89.4k |
| California Public Employees Retirement System 0.04% of their portfolio | 901.3k $74.4m | Reduced -168.1k |
| NORDEA INVESTMENT MANAGEMENT AB 0.06% of their portfolio | 894.5k $74.1m | Added +30.0k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 890.1k $73.4m | Reduced -382.8k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 884.6k $73.0m | Reduced -375.1k |
| PRUDENTIAL FINANCIAL INC 0.08% of their portfolio | 857.6k $70.7m | Added +330.6k |
| Invesco Ltd. 0.01% of their portfolio | 824.7k $68.0m | Added +94.5k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 1.07% of their portfolio | 768.0k $63.4m | New |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 762.1k $62.9m | Reduced -78.0k |
| D. E. Shaw & Co., Inc. 0.05% of their portfolio | 736.2k $60.7m | Reduced -121.8k |
| Swiss National Bank 0.03% of their portfolio | 712.7k $58.8m | Reduced -47.5k |
| Retirement Systems of Alabama 0.19% of their portfolio | 704.6k $58.1m | Unchanged |
| TWO SIGMA ADVISERS, LP 0.11% of their portfolio | 677.6k $55.9m | Added +592.1k |
| National Pension Service 0.04% of their portfolio | 676.3k $55.8m | Added +54.4k |
| KBC Group NV 0.13% of their portfolio | 659.4k $54.4m | Reduced -963.3k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 625.8k $51.6m | Reduced -287.5k |
| JANE STREET GROUP, LLC 0.06% of their portfolio | 606.0k $50.0m | Added +237.2k |
| Freestone Grove Partners LP 0.36% of their portfolio | 580.8k $47.9m | Reduced -203.3k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 574.9k $47.4m | Reduced -994.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 573.2k $47.3m | Added +1.5k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 570.7k $47.5m | Added +143.7k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.16% of their portfolio | 560.4k $46.2m | New |
| DekaBank Deutsche Girozentrale 0.08% of their portfolio | 537.6k $44.8m | Unchanged |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 537.0k $44.3m | Added +25.7k |
| Skandinaviska Enskilda Banken AB (publ) 0.18% of their portfolio | 535.0k $44.1m | Added +70.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 532.7k $43.9m | Reduced -212.0k |
| Alyeska Investment Group, L.P. 0.12% of their portfolio | 481.3k $39.7m | Reduced -103.3k |
| Andra AP-fonden 0.50% of their portfolio | 476.9k $39.3m | New |
| IEQ CAPITAL, LLC 0.12% of their portfolio | 471.2k $38.9m | Added +258.9k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 462.5k $38.2m | Added +12.3k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 450.0k $37.1m | Reduced -155.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio | 447.2k $36.9m | Added +237.6k |
| STOREBRAND ASSET MANAGEMENT AS 0.10% of their portfolio | 434.9k $35.9m | Reduced -123.7k |
| KLP KAPITALFORVALTNING AS 0.13% of their portfolio | 404.8k $33.4m | Reduced -31.5k |
| Nuveen, LLC 0.01% of their portfolio | 394.8k $32.6m | Added +8.2k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.19% of their portfolio | 363.8k $30.0m | Reduced -125.6k |
| Vinva Investment Management Ltd 0.60% of their portfolio | 361.5k $30.7m | Added +257.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 359.8k $29.7m | Added +103.4k |
| TD Asset Management Inc 0.02% of their portfolio | 358.9k $29.6m | Reduced -188.7k |
| Junto Capital Management LP 0.61% of their portfolio | 352.4k $29.1m | Reduced -94.9k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.08% of their portfolio | 347.9k $28.7m | Reduced -69.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 343.8k $28.4m | Reduced -19.4k |
| Mitsubishi UFJ Trust & Banking Corp 0.06% of their portfolio | 334.8k $27.6m | Reduced -22.4k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.06% of their portfolio | 334.5k $27.6m | Reduced -23.1k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 329.1k $27.2m | Reduced -128.5k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.11% of their portfolio | 328.0k $27.1m | Added +59.9k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.04% of their portfolio | 326.2k $25.9m | Added +273.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 296.0k $24.4m | Added +67.9k |
| Avory & Company, LLC 14.48% of their portfolio | 291.4k $24.0m | Reduced -511 |
| NAN FUNG TRINITY (HK) LTD 2.35% of their portfolio | 285.7k $23.6m | Unchanged |
| SEI INVESTMENTS CO 0.03% of their portfolio | 284.9k $23.5m | Added +117.6k |
| LMR Partners LLP 0.29% of their portfolio | 276.0k $22.8m | Added +273.4k |
| Treasurer of the State of North Carolina 0.07% of their portfolio | 275.1k $22.7m | Added +8.5k |
| Illinois Municipal Retirement Fund 0.29% of their portfolio | 275.0k $22.7m | Reduced -16.6k |
| BARCLAYS PLC 0.01% of their portfolio | 269.4k $22.2m | Reduced -32.3k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.09% of their portfolio | 269.1k $22.2m | Added +242.5k |
| Gotham Asset Management, LLC 0.10% of their portfolio | 266.7k $22.0m | Added +27.9k |
| Aberdeen Group plc 0.03% of their portfolio | 264.5k $21.8m | Added +22.9k |
| Engineers Gate Manager LP 0.25% of their portfolio | 263.8k $21.8m | Added +187.2k |
| MARTINGALE ASSET MANAGEMENT L P 0.54% of their portfolio | 259.5k $21.4m | Reduced -15.5k |