Fmr LLC Sells 16,115,171 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

FMR LLC cut its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 48.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,938,251 shares of the company's stock after selling 16,115,171 shares during the period. FMR LLC owned 4.93% of ZoomInfo Technologies worth $178,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZI. Alberta Investment Management Corp purchased a new stake in ZoomInfo Technologies in the fourth quarter valued at approximately $2,320,000. JPMorgan Chase & Co. raised its position in shares of ZoomInfo Technologies by 35.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,089,358 shares of the company's stock valued at $63,999,000 after buying an additional 1,591,960 shares in the last quarter. Sei Investments Co. grew its position in ZoomInfo Technologies by 419.0% in the fourth quarter. Sei Investments Co. now owns 181,692 shares of the company's stock worth $1,910,000 after acquiring an additional 146,681 shares in the last quarter. Norges Bank bought a new position in ZoomInfo Technologies in the fourth quarter valued at $17,042,000. Finally, SBI Securities Co. Ltd. purchased a new stake in ZoomInfo Technologies during the fourth quarter valued at about $280,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ZI shares. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research report on Wednesday, February 26th. Piper Sandler raised shares of ZoomInfo Technologies from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $10.00 to $11.00 in a research note on Wednesday, February 26th. Mizuho cut their price objective on shares of ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, DA Davidson lowered their price target on shares of ZoomInfo Technologies from $13.00 to $8.00 and set a "neutral" rating for the company in a research note on Monday. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.58.

ZoomInfo Technologies Stock Up 0.3 %

ZoomInfo Technologies stock traded up $0.02 during trading hours on Friday, hitting $8.01. 3,872,284 shares of the stock traded hands, compared to its average volume of 7,286,317. ZoomInfo Technologies Inc. has a one year low of $7.01 and a one year high of $16.98. The firm's 50-day moving average price is $9.99 and its two-hundred day moving average price is $10.34. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. The company has a market cap of $2.74 billion, a PE ratio of 267.09, a PEG ratio of 13.05 and a beta of 1.00.

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

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.