Principal Financial Group Inc. Reduces Stock Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Principal Financial Group Inc. decreased its position in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 624,017 shares of the company's stock after selling 46,251 shares during the period. Principal Financial Group Inc. owned about 0.18% of ZoomInfo Technologies worth $6,558,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in ZoomInfo Technologies by 83.4% during the 3rd quarter. Victory Capital Management Inc. now owns 163,708 shares of the company's stock valued at $1,689,000 after purchasing an additional 74,455 shares during the last quarter. Versor Investments LP purchased a new position in shares of ZoomInfo Technologies during the third quarter valued at approximately $516,000. State Street Corp raised its holdings in shares of ZoomInfo Technologies by 2.0% during the third quarter. State Street Corp now owns 8,626,463 shares of the company's stock valued at $89,025,000 after acquiring an additional 165,440 shares in the last quarter. XTX Topco Ltd bought a new position in shares of ZoomInfo Technologies during the third quarter valued at approximately $895,000. Finally, KBC Group NV lifted its stake in ZoomInfo Technologies by 2,644.4% in the fourth quarter. KBC Group NV now owns 257,781 shares of the company's stock worth $2,709,000 after acquiring an additional 248,388 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZI. Wells Fargo & Company boosted their price objective on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Mizuho boosted their price target 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. Scotiabank raised their price objective on shares of ZoomInfo Technologies from $10.30 to $11.00 and gave the stock a "sector perform" rating in a report on Thursday, February 27th. Piper Sandler raised ZoomInfo Technologies from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $10.00 to $11.00 in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a research report on Wednesday, February 26th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, ZoomInfo Technologies currently has a consensus rating of "Hold" and a consensus target price of $11.92.

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ZoomInfo Technologies Stock Down 4.2 %

NASDAQ:ZI traded down $0.50 on Thursday, reaching $11.40. 6,272,827 shares of the stock traded hands, compared to its average volume of 7,001,008. 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 capitalization of $3.91 billion, a price-to-earnings ratio of 380.13, a PEG ratio of 13.05 and a beta of 0.97. ZoomInfo Technologies Inc. has a 12 month low of $7.65 and a 12 month high of $17.01. The company's fifty day simple moving average is $10.36 and its 200 day simple moving average is $10.44.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last announced 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%. Equities analysts predict that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

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.