ZoomInfo Technologies Inc. (NASDAQ:ZI) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 1.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 275,505 shares of the company’s stock after acquiring an additional 3,023 shares during the period. Envestnet Asset Management Inc.’s holdings in ZoomInfo Technologies were worth $3,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp grew its stake in shares of ZoomInfo Technologies by 955.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock valued at $34,000 after purchasing an additional 2,388 shares during the last quarter. Covestor Ltd grew its position in ZoomInfo Technologies by 598.5% in the 1st quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after buying an additional 2,861 shares during the last quarter. Advisors Asset Management Inc. increased its stake in ZoomInfo Technologies by 45.3% in the 1st quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock valued at $80,000 after buying an additional 1,547 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in ZoomInfo Technologies during the 1st quarter worth $85,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ZoomInfo Technologies in the 2nd quarter worth $123,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

ZoomInfo Technologies Price Performance

ZI stock opened at $9.99 on Thursday. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 49.95, a price-to-earnings-growth ratio of 6.42 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. ZoomInfo Technologies Inc. has a 52-week low of $7.65 and a 52-week high of $19.39. The stock’s fifty day simple moving average is $9.97 and its 200-day simple moving average is $12.42.

ZoomInfo Technologies (NASDAQ:ZI) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.07). ZoomInfo Technologies had a return on equity of 10.96% and a net margin of 1.25%. The business had revenue of $291.50 million during the quarter, compared to analyst estimates of $307.68 million. During the same period in the previous year, the business posted $0.16 earnings per share. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts expect that ZoomInfo Technologies Inc. will post 0.55 EPS for the current year.

Insider Activity at ZoomInfo Technologies

In other news, CEO Henry Schuck bought 1,500,000 shares of ZoomInfo Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $8.49 per share, for a total transaction of $12,735,000.00. Following the completion of the acquisition, the chief executive officer now owns 11,788,001 shares of the company’s stock, valued at $100,080,128.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Peter Cameron Hyzer sold 7,500 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $12.37, for a total value of $92,775.00. Following the completion of the sale, the chief financial officer now owns 1,316,518 shares of the company’s stock, valued at $16,285,327.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Henry Schuck bought 1,500,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $12,735,000.00. Following the purchase, the chief executive officer now owns 11,788,001 shares in the company, valued at approximately $100,080,128.49. The disclosure for this purchase can be found here. 8.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ZI has been the subject of several analyst reports. Barclays cut their price target on shares of ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Bank of America cut ZoomInfo Technologies from a “buy” rating to an “underperform” rating and reduced their price target for the company from $23.00 to $8.00 in a report on Tuesday, August 6th. Daiwa America lowered ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Daiwa Capital Markets lowered shares of ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $9.00 in a research report on Tuesday, August 13th. Finally, Mizuho cut their price target on shares of ZoomInfo Technologies from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.40.

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.