Norges Bank Takes Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Norges Bank acquired a new stake in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,621,548 shares of the company's stock, valued at approximately $17,042,000. Norges Bank owned about 0.47% of ZoomInfo Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZI. Alberta Investment Management Corp bought a new position in ZoomInfo Technologies during the 4th quarter worth about $2,320,000. JPMorgan Chase & Co. lifted its position in shares of ZoomInfo Technologies by 35.4% in the 4th quarter. JPMorgan Chase & Co. now owns 6,089,358 shares of the company's stock worth $63,999,000 after purchasing an additional 1,591,960 shares during the period. Sei Investments Co. boosted its stake in shares of ZoomInfo Technologies by 419.0% during the fourth quarter. Sei Investments Co. now owns 181,692 shares of the company's stock valued at $1,910,000 after purchasing an additional 146,681 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in ZoomInfo Technologies during the fourth quarter valued at approximately $280,000. Finally, State Street Corp raised its stake in ZoomInfo Technologies by 2.0% in the third quarter. State Street Corp now owns 8,626,463 shares of the company's stock worth $89,025,000 after buying an additional 165,440 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

ZoomInfo Technologies Price Performance

ZI traded up $0.09 during trading on Friday, hitting $7.93. The company's stock had a trading volume of 5,897,558 shares, compared to its average volume of 7,276,543. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 264.42, a P/E/G ratio of 13.05 and a beta of 1.00. ZoomInfo Technologies Inc. has a twelve month low of $7.01 and a twelve month high of $16.98. The business's fifty day simple moving average is $10.16 and its 200 day simple moving average is $10.40. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). The firm had revenue of $309.10 million for the quarter, compared to analyst estimates of $297.64 million. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. On average, equities research analysts forecast that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup increased their price target on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the company a "sell" rating in a research report on Tuesday, February 11th. Stifel Nicolaus boosted their price objective on shares of ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price target on ZoomInfo Technologies from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Scotiabank increased their price objective on ZoomInfo Technologies from $10.30 to $11.00 and gave the company a "sector perform" rating in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.92.

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.