Verition Fund Management LLC Reduces Stock Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Verition Fund Management LLC cut its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI) by 14.4% in the third quarter, HoldingsChannel.com reports. The fund owned 46,979 shares of the company’s stock after selling 7,906 shares during the period. Verition Fund Management LLC’s holdings in ZoomInfo Technologies were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Capstone Investment Advisors LLC bought a new stake in ZoomInfo Technologies in the 3rd quarter worth approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ZoomInfo Technologies by 7.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,091 shares of the company’s stock worth $641,000 after buying an additional 4,507 shares during the last quarter. FORA Capital LLC purchased a new position in shares of ZoomInfo Technologies in the 3rd quarter worth $134,000. Advantage Alpha Capital Partners LP grew its holdings in shares of ZoomInfo Technologies by 17.3% in the third quarter. Advantage Alpha Capital Partners LP now owns 350,561 shares of the company’s stock worth $3,618,000 after acquiring an additional 51,683 shares during the period. Finally, FMR LLC increased its position in ZoomInfo Technologies by 27.7% during the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock valued at $341,111,000 after acquiring an additional 7,177,687 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

ZoomInfo Technologies Trading Up 2.9 %

Shares of ZI opened at $10.77 on Thursday. ZoomInfo Technologies Inc. has a 1 year low of $7.65 and a 1 year high of $19.39. The company has a 50 day simple moving average of $10.70 and a two-hundred day simple moving average of $10.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $3.70 billion, a P/E ratio of 349.12, a price-to-earnings-growth ratio of 14.42 and a beta of 1.02.

Insider Activity at ZoomInfo Technologies

In other news, Director David Randall Winn sold 290,541 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the sale, the director now directly owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. This represents a 18.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Henry Schuck purchased 492,500 shares of ZoomInfo Technologies stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the transaction, the chief executive officer now directly owns 12,280,501 shares of the company’s stock, valued at $125,875,135.25. The trade was a 4.18 % increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ZI has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a research report on Wednesday, November 13th. Piper Sandler raised their price objective on shares of ZoomInfo Technologies from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Scotiabank assumed coverage on shares of ZoomInfo Technologies in a report on Monday, November 18th. They set a “sector perform” rating and a $10.30 target price for the company. Citigroup lifted their price target on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a “sell” rating in a research note on Thursday, November 14th. Finally, Mizuho upped their price objective on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, ZoomInfo Technologies currently has an average rating of “Hold” and an average target price of $12.77.

About ZoomInfo Technologies

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.