ZoomInfo Technologies Inc. (NASDAQ:ZI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 15.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 948,396 shares of the company's stock after selling 169,956 shares during the period. Principal Financial Group Inc. owned about 0.25% of ZoomInfo Technologies worth $12,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZI. Bank of New York Mellon Corp increased its position in shares of ZoomInfo Technologies by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 3,289,360 shares of the company's stock valued at $42,005,000 after buying an additional 223,669 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of ZoomInfo Technologies during the second quarter valued at about $123,000. J.Safra Asset Management Corp increased its position in shares of 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. M&G Plc purchased a new position in shares of ZoomInfo Technologies during the second quarter valued at about $9,534,000. Finally, SG Americas Securities LLC purchased a new position in shares of ZoomInfo Technologies during the second quarter valued at about $1,136,000. 95.47% of the stock is owned by institutional investors.

ZoomInfo Technologies Trading Down 3.9 %

NASDAQ:ZI traded down $0.39 during mid-day trading on Friday, hitting $9.55. 5,569,997 shares of the stock traded hands, compared to its average volume of 6,604,408. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 47.75, a PEG ratio of 6.01 and a beta of 1.05. ZoomInfo Technologies Inc. has a 52 week low of $7.65 and a 52 week high of $19.39. The firm's 50 day moving average is $10.56 and its two-hundred day moving average is $13.23. 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 - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.07). The company had revenue of $291.50 million during the quarter, compared to analysts' expectations of $307.68 million. ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. ZoomInfo Technologies's quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. On average, equities research analysts predict that ZoomInfo Technologies Inc. will post 0.55 earnings per share for the current year.

Insider Transactions at ZoomInfo Technologies

In other ZoomInfo Technologies news, CEO Henry Schuck purchased 1,500,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $8.49 per share, with a total value of $12,735,000.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Henry Schuck acquired 1,500,000 shares of ZoomInfo Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $8.49 per share, for a total transaction of $12,735,000.00. Following the purchase, the chief executive officer now directly owns 11,788,001 shares in the company, valued at approximately $100,080,128.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Patrick Mader sold 3,112 shares of the business's stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total transaction of $39,771.36. Following the transaction, the director now owns 17,622 shares of the company's stock, valued at approximately $225,209.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,112 shares of company stock valued at $228,396. Company insiders own 8.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZI. Deutsche Bank Aktiengesellschaft cut their price objective on shares of ZoomInfo Technologies from $17.00 to $12.00 and set a "hold" rating on the stock in a report on Tuesday, August 6th. Truist Financial cut their price objective on shares of ZoomInfo Technologies from $16.00 to $11.00 and set a "hold" rating on the stock in a report on Tuesday, August 6th. Daiwa America cut shares of ZoomInfo Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 13th. Stifel Nicolaus cut their price target on shares of ZoomInfo Technologies from $16.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. Finally, KeyCorp cut shares of ZoomInfo Technologies from an "overweight" rating to a "sector weight" rating in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.