ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Up After Insider Buying Activity

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s stock price gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $9.90, but opened at $10.47. ZoomInfo Technologies shares last traded at $10.65, with a volume of 1,655,211 shares.

Specifically, CEO Henry Schuck purchased 492,500 shares of ZoomInfo Technologies stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the transaction, the chief executive officer now owns 12,280,501 shares in the company, valued at $125,875,135.25. This trade represents a 4.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

ZI has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their target price on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. DA Davidson lowered shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $9.50 in a report on Tuesday, August 6th. Piper Sandler increased their target price on shares of ZoomInfo Technologies from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of ZoomInfo Technologies in a research report on Wednesday, November 13th. Finally, Daiwa America downgraded ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.72.

ZoomInfo Technologies Stock Performance

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 company has a market cap of $3.79 billion, a PE ratio of 345.78, a PEG ratio of 5.64 and a beta of 1.03. The business’s 50-day moving average is $10.55 and its 200 day moving average is $11.14.

Institutional Investors Weigh In On ZoomInfo Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners purchased a new position in shares of ZoomInfo Technologies in the first quarter valued at about $613,000. Janus Henderson Group PLC increased its holdings in ZoomInfo Technologies by 7.1% during the 1st quarter. Janus Henderson Group PLC now owns 258,222 shares of the company’s stock valued at $4,140,000 after purchasing an additional 17,193 shares during the period. M&G Plc bought a new position in ZoomInfo Technologies during the 2nd quarter valued at approximately $9,534,000. Tidal Investments LLC purchased a new stake in ZoomInfo Technologies in the 1st quarter worth approximately $2,113,000. Finally, Versor Investments LP bought a new stake in shares of ZoomInfo Technologies in the 3rd quarter worth approximately $516,000. Institutional investors 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.