ZoomInfo Technologies (NASDAQ:ZI) Shares Down 2.5%

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s share price was down 2.5% during mid-day trading on Wednesday . The stock traded as low as $11.91 and last traded at $11.94. Approximately 626,167 shares traded hands during trading, a decline of 90% from the average daily volume of 6,301,241 shares. The stock had previously closed at $12.25.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ZI shares. Citigroup decreased their price objective on shares of ZoomInfo Technologies from $13.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, May 9th. Barclays decreased their price objective on shares of ZoomInfo Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company decreased their price objective on shares of ZoomInfo Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of ZoomInfo Technologies in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group cut shares of ZoomInfo Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the company from $19.50 to $12.00 in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, ZoomInfo Technologies presently has an average rating of “Hold” and a consensus target price of $18.90.

ZoomInfo Technologies Price Performance

The business’s fifty day moving average price is $13.13 and its 200 day moving average price is $15.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.58 billion, a PE ratio of 61.25, a PEG ratio of 2.94 and a beta of 1.06.

ZoomInfo Technologies (NASDAQ:ZI) last announced its earnings results on Tuesday, May 7th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. ZoomInfo Technologies had a net margin of 6.24% and a return on equity of 12.00%. The business had revenue of $310.10 million during the quarter, compared to analysts’ expectations of $308.84 million. On average, equities research analysts forecast that ZoomInfo Technologies Inc. will post 0.69 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Ali Dasdan sold 5,862 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total transaction of $69,757.80. Following the completion of the transaction, the chief technology officer now directly owns 87,540 shares of the company’s stock, valued at $1,041,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Ali Dasdan sold 5,862 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total transaction of $69,757.80. Following the completion of the transaction, the chief technology officer now directly owns 87,540 shares of the company’s stock, valued at $1,041,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Patrick Mader sold 3,112 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $12.78, for a total transaction of $39,771.36. Following the transaction, the director now directly owns 17,622 shares of the company’s stock, valued at $225,209.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,474 shares of company stock valued at $205,379. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in ZoomInfo Technologies by 6.6% in the third quarter. Vanguard Group Inc. now owns 33,741,205 shares of the company’s stock valued at $553,356,000 after buying an additional 2,079,385 shares in the last quarter. Wellington Management Group LLP increased its holdings in ZoomInfo Technologies by 2.0% in the third quarter. Wellington Management Group LLP now owns 29,570,904 shares of the company’s stock valued at $484,963,000 after buying an additional 586,623 shares in the last quarter. Coatue Management LLC purchased a new position in ZoomInfo Technologies in the fourth quarter valued at about $120,619,000. Ameriprise Financial Inc. increased its holdings in ZoomInfo Technologies by 4.9% in the third quarter. Ameriprise Financial Inc. now owns 6,508,333 shares of the company’s stock valued at $106,737,000 after buying an additional 306,603 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of ZoomInfo Technologies by 52,230.4% in the fourth quarter. Franklin Resources Inc. now owns 6,055,152 shares of the company’s stock valued at $111,960,000 after purchasing an additional 6,043,581 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies Inc, together with its subsidiaries, provides go-to-market intelligence and engagement platform for sales and marketing teams in the United States and internationally. The company's cloud-based platform provides information on organizations and professionals to help users identify target customers and decision makers, obtain continually updated predictive lead and company scoring, monitor buying signals and other attributes of target companies, craft messages, engage through automated sales tools, and track progress through the deal cycle.