Piper Sandler Reaffirms “Underweight” Rating for ZoomInfo Technologies (NASDAQ:ZI)

ZoomInfo Technologies (NASDAQ:ZI)‘s stock had its “underweight” rating reaffirmed by equities researchers at Piper Sandler in a report issued on Monday,Benzinga reports. They currently have a $10.00 price target on the stock, down from their prior price target of $11.00. Piper Sandler’s target price points to a potential downside of 6.02% from the company’s previous close.

Other analysts also recently issued reports about the stock. Scotiabank began coverage on shares of ZoomInfo Technologies in a research report on Monday, November 18th. They set a “sector perform” rating and a $10.30 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of ZoomInfo Technologies in a report on Wednesday, November 13th. Barclays increased their price target on ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. KeyCorp downgraded ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research note on Friday, December 13th. Finally, Citigroup raised their target price on ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a research note on Thursday, November 14th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, ZoomInfo Technologies presently has an average rating of “Hold” and a consensus price target of $12.72.

ZoomInfo Technologies Price Performance

Shares of ZI opened at $10.64 on Monday. ZoomInfo Technologies has a one year low of $7.65 and a one year high of $18.69. The stock’s fifty day moving average is $10.90 and its 200-day moving average is $10.68. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 354.78, a price-to-earnings-growth ratio of 13.58 and a beta of 1.02.

Insider Activity

In related news, CTO Ali Dasdan sold 4,898 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total transaction of $53,926.98. Following the transaction, the chief technology officer now directly owns 118,659 shares of the company’s stock, valued at approximately $1,306,435.59. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Henry Schuck acquired 492,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the purchase, the chief executive officer now owns 12,280,501 shares in the company, valued at approximately $125,875,135.25. This trade represents a 4.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.10% of the company’s stock.

Institutional Trading of ZoomInfo Technologies

A number of institutional investors have recently bought and sold shares of ZI. CIBC Asset Management Inc acquired a new stake in ZoomInfo Technologies in the second quarter valued at approximately $137,000. Victory Capital Management Inc. lifted its stake in shares of ZoomInfo Technologies by 47.2% in the 2nd quarter. Victory Capital Management Inc. now owns 89,253 shares of the company’s stock valued at $1,140,000 after purchasing an additional 28,617 shares during the last quarter. Acadian Asset Management LLC bought a new stake in ZoomInfo Technologies in the second quarter worth $987,000. Caprock Group LLC increased its position in ZoomInfo Technologies by 7.1% during the second quarter. Caprock Group LLC now owns 152,872 shares of the company’s stock worth $1,952,000 after buying an additional 10,165 shares during the last quarter. Finally, Quest Partners LLC increased its position in ZoomInfo Technologies by 106.1% during the second quarter. Quest Partners LLC now owns 23,821 shares of the company’s stock worth $304,000 after buying an additional 12,264 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.