Short Interest in ZoomInfo Technologies Inc. (NASDAQ:ZI) Expands By 33.9%

ZoomInfo Technologies Inc. (NASDAQ:ZI) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 35,940,000 shares, an increase of 33.9% from the September 30th total of 26,840,000 shares. Based on an average daily trading volume, of 7,500,000 shares, the short-interest ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

ZI has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of ZoomInfo Technologies from $17.00 to $12.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Citigroup reduced their price target on shares of ZoomInfo Technologies from $11.00 to $7.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. KeyCorp cut shares of ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, August 6th. Stifel Nicolaus dropped their price objective on ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Daiwa Capital Markets lowered ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $9.00 in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, ZoomInfo Technologies currently has a consensus rating of “Hold” and a consensus target price of $13.40.

ZoomInfo Technologies Stock Performance

Shares of ZI stock opened at $10.74 on Tuesday. The stock has a fifty day moving average of $10.08 and a 200 day moving average of $11.68. ZoomInfo Technologies has a 52 week low of $7.65 and a 52 week high of $19.39. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 268.57, a PEG ratio of 6.42 and a beta of 1.06. 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 (NASDAQ:ZI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.17 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 analysts’ expectations of $307.68 million. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. As a group, research analysts expect that ZoomInfo Technologies will post 0.55 earnings per share for the current year.

Insider Activity

In related news, CEO Henry Schuck acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $8.49 per share, for a total transaction of $12,735,000.00. Following the completion of the transaction, the chief executive officer now owns 11,788,001 shares in the company, valued at approximately $100,080,128.49. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. purchased a new position in ZoomInfo Technologies during the third quarter valued at $31,000. J.Safra Asset Management Corp lifted its position in ZoomInfo Technologies by 955.2% during the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock valued at $34,000 after buying an additional 2,388 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in ZoomInfo Technologies during the third quarter valued at $37,000. GAMMA Investing LLC increased its holdings in shares of ZoomInfo Technologies by 114.9% during the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after acquiring an additional 2,134 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of ZoomInfo Technologies by 598.5% during the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after acquiring an additional 2,861 shares in the last quarter. Hedge funds and other 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.