Piper Sandler Reiterates Underweight Rating for ZoomInfo Technologies (NASDAQ:ZI)

Piper Sandler reiterated their underweight rating on shares of ZoomInfo Technologies (NASDAQ:ZI) in a report issued on Monday morning, MarketBeat.com reports. Piper Sandler currently has a $10.00 price objective on the stock, down from their previous price objective of $11.00.

ZI has been the subject of a number of other reports. Barclays raised their price objective on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Scotiabank started coverage on shares of ZoomInfo Technologies in a report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 target price on the stock. Mizuho lifted their target price on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Citigroup increased their price objective on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a “sell” rating in a report on Thursday, November 14th. Finally, KeyCorp downgraded shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research note on Friday, December 13th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.72.

ZoomInfo Technologies Stock Performance

ZI opened at $10.48 on Monday. ZoomInfo Technologies has a 1-year low of $7.65 and a 1-year high of $18.69. The stock has a market cap of $3.60 billion, a P/E ratio of 349.45, a P/E/G ratio of 13.58 and a beta of 1.01. The stock’s 50 day simple moving average is $10.89 and its 200 day simple moving average is $10.67. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63.

Insider Activity at ZoomInfo Technologies

In related news, CEO Henry Schuck acquired 492,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the purchase, the chief executive officer now directly 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 SEC, which is accessible through the SEC website. Also, CTO Ali Dasdan sold 4,898 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the completion of the sale, the chief technology officer now directly owns 118,659 shares of the company’s stock, valued at $1,306,435.59. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of ZoomInfo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in ZoomInfo Technologies by 29.1% during the fourth quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock valued at $54,000 after buying an additional 1,160 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of ZoomInfo Technologies by 7.1% during the third quarter. State of Alaska Department of Revenue now owns 34,265 shares of the company’s stock valued at $353,000 after purchasing an additional 2,275 shares during the last quarter. KBC Group NV increased its stake in ZoomInfo Technologies by 39.0% in the 3rd quarter. KBC Group NV now owns 9,393 shares of the company’s stock worth $97,000 after purchasing an additional 2,635 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in ZoomInfo Technologies during the 3rd quarter worth about $31,000. Finally, Envestnet Asset Management Inc. lifted its stake in ZoomInfo Technologies by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 275,505 shares of the company’s stock valued at $3,518,000 after buying an additional 3,023 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.

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.