ZoomInfo Technologies (NASDAQ:ZI) Receives Equal Weight Rating from Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of ZoomInfo Technologies (NASDAQ:ZI) in a report released on Tuesday, Marketbeat.com reports. They currently have a $11.00 price target on the stock, down from their previous price target of $14.00.

Several other research analysts also recently commented on ZI. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Scotiabank initiated coverage on shares of ZoomInfo Technologies in a research note on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price target for the company. Citigroup raised their price objective on ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a research note on Thursday, November 14th. Piper Sandler reissued an “underweight” rating and issued a $10.00 target price (down previously from $11.00) on shares of ZoomInfo Technologies in a research note on Monday. Finally, Barclays increased their target price on ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.57.

ZoomInfo Technologies Stock Performance

NASDAQ ZI opened at $10.14 on Tuesday. The company’s 50 day simple moving average is $10.88 and its two-hundred day simple moving average is $10.65. The stock has a market capitalization of $3.48 billion, a PE ratio of 338.11, a P/E/G ratio of 13.58 and a beta of 1.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $18.69.

Insider Activity at ZoomInfo Technologies

In other news, CEO Henry Schuck bought 492,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price 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 directly owns 12,280,501 shares in the company, valued at $125,875,135.25. The trade was a 4.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Randall Winn sold 290,541 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the sale, the director now owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. This trade represents a 18.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On ZoomInfo Technologies

Several institutional investors and hedge funds have recently bought and sold shares of ZI. FMR LLC grew its position in ZoomInfo Technologies by 27.7% in the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after acquiring an additional 7,177,687 shares during the period. Pacer Advisors Inc. lifted its position in shares of ZoomInfo Technologies by 8,471.7% during the second quarter. Pacer Advisors Inc. now owns 6,689,198 shares of the company’s stock worth $85,421,000 after purchasing an additional 6,611,160 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of ZoomInfo Technologies in the second quarter valued at approximately $73,435,000. Maverick Capital Ltd. acquired a new position in shares of ZoomInfo Technologies in the third quarter valued at approximately $44,248,000. Finally, Primecap Management Co. CA increased its stake in ZoomInfo Technologies by 97.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,565,440 shares of the company’s stock worth $26,475,000 after buying an additional 1,267,171 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.