ZoomInfo Technologies Inc. (NASDAQ:ZI) Sees Significant Growth in Short Interest

ZoomInfo Technologies Inc. (NASDAQ:ZI) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 23,240,000 shares, a growth of 47.5% from the June 15th total of 15,760,000 shares. Based on an average daily trading volume, of 5,960,000 shares, the days-to-cover ratio is currently 3.9 days.

Insiders Place Their Bets

In related news, CTO Ali Dasdan sold 5,862 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Ali Dasdan sold 5,862 shares of ZoomInfo Technologies stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total value of $69,757.80. Following the completion of the transaction, the chief technology officer now owns 87,540 shares of the company’s stock, valued at approximately $1,041,726. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter Cameron Hyzer sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $12.37, for a total transaction of $92,775.00. Following the transaction, the chief financial officer now owns 1,316,518 shares in the company, valued at $16,285,327.66. The disclosure for this sale can be found here. Insiders have sold 23,974 shares of company stock valued at $298,154 in the last three months. 8.10% of the stock is currently owned by corporate insiders.

Institutional Trading of ZoomInfo Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of ZI. Fifth Third Bancorp raised its holdings in ZoomInfo Technologies by 64.2% in the 4th quarter. Fifth Third Bancorp now owns 1,653 shares of the company’s stock valued at $31,000 after buying an additional 646 shares during the last quarter. GAMMA Investing LLC acquired a new position in ZoomInfo Technologies in the 4th quarter valued at approximately $43,000. Covestor Ltd lifted its holdings in shares of ZoomInfo Technologies by 598.5% during the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock worth $54,000 after purchasing an additional 2,861 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of ZoomInfo Technologies by 792.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,310 shares of the company’s stock worth $61,000 after purchasing an additional 2,939 shares during the period. Finally, Quest Partners LLC acquired a new stake in ZoomInfo Technologies in the fourth quarter valued at $62,000. Institutional investors own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group reduced their target price on shares of ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Piper Sandler reduced their price objective on ZoomInfo Technologies from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group lowered ZoomInfo Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $19.50 to $12.00 in a research note on Wednesday, May 8th. Morgan Stanley reduced their price target on ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, KeyCorp lowered their price objective on ZoomInfo Technologies from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.86.

ZoomInfo Technologies Trading Down 1.3 %

Shares of ZI opened at $11.72 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11. ZoomInfo Technologies has a 52-week low of $11.35 and a 52-week high of $30.16. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.75 and a beta of 1.06. The business’s fifty day moving average is $12.61 and its 200-day moving average is $15.02.

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

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.