JPMorgan Chase & Co. Lowers Holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI)

JPMorgan Chase & Co. cut its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 28.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,497,398 shares of the company's stock after selling 1,794,274 shares during the quarter. JPMorgan Chase & Co. owned 1.31% of ZoomInfo Technologies worth $46,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. American Trust purchased a new stake in shares of ZoomInfo Technologies during the third quarter worth about $104,000. SkyView Investment Advisors LLC bought a new stake in shares of ZoomInfo Technologies in the 3rd quarter worth approximately $129,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of ZoomInfo Technologies by 11.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,031 shares of the company's stock valued at $1,703,000 after buying an additional 17,060 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of ZoomInfo Technologies in the 3rd quarter worth $720,000. Finally, M&T Bank Corp boosted its holdings in shares of ZoomInfo Technologies by 30.2% during the 3rd quarter. M&T Bank Corp now owns 16,152 shares of the company's stock valued at $167,000 after acquiring an additional 3,746 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CTO Ali Dasdan sold 4,898 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total value of $53,926.98. Following the completion of the transaction, the chief technology officer now owns 118,659 shares in the company, valued at $1,306,435.59. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Henry Schuck acquired 492,500 shares of ZoomInfo Technologies stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 12,280,501 shares in the company, valued at approximately $125,875,135.25. This represents a 4.18 % increase in their position. The disclosure for this purchase can be found here. 8.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZI. Barclays lifted their price objective on ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price target on shares of ZoomInfo Technologies in a research report on Wednesday, November 13th. Citigroup increased their price objective on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the company a "sell" rating in a research report on Thursday, November 14th. KeyCorp cut shares of ZoomInfo Technologies from a "sector weight" rating to an "underweight" rating in a research note on Friday, December 13th. Finally, Mizuho upped their target price on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.72.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI traded down $0.16 during trading hours on Monday, reaching $10.48. The company had a trading volume of 12,464,540 shares, compared to its average volume of 9,073,047. The business's 50 day moving average price is $10.90 and its 200-day moving average price is $10.68. ZoomInfo Technologies Inc. has a 1-year low of $7.65 and a 1-year high of $18.69. The firm has a market cap of $3.60 billion, a PE ratio of 349.45, a price-to-earnings-growth 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 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.