Principal Financial Group Inc. lessened its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 29.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 670,268 shares of the company's stock after selling 278,128 shares during the quarter. Principal Financial Group Inc. owned about 0.18% of ZoomInfo Technologies worth $6,917,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in ZI. Raleigh Capital Management Inc. acquired a new stake in shares of ZoomInfo Technologies in the 3rd quarter valued at approximately $31,000. J.Safra Asset Management Corp grew its position in shares of ZoomInfo Technologies by 955.2% in the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company's stock valued at $34,000 after purchasing an additional 2,388 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ZoomInfo Technologies during the third quarter valued at about $37,000. GAMMA Investing LLC lifted its stake in shares of ZoomInfo Technologies by 114.9% during the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company's stock worth $41,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of ZoomInfo Technologies by 598.5% during the first quarter. Covestor Ltd now owns 3,339 shares of the company's stock worth $54,000 after purchasing an additional 2,861 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.
ZoomInfo Technologies Trading Up 5.1 %
ZI traded up $0.50 during trading on Wednesday, hitting $10.40. 6,425,097 shares of the stock traded hands, compared to its average volume of 6,991,992. The firm has a market capitalization of $3.80 billion, a P/E ratio of 355.45, a price-to-earnings-growth ratio of 5.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a 50-day moving average of $10.53 and a 200 day moving average of $11.15. ZoomInfo Technologies Inc. has a 12-month low of $7.65 and a 12-month high of $19.39.
Analyst Ratings Changes
ZI has been the topic of several research reports. Needham & Company LLC restated a "buy" rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Bank of America lowered ZoomInfo Technologies from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $23.00 to $8.00 in a report on Tuesday, August 6th. Scotiabank began coverage on ZoomInfo Technologies in a report on Monday. They issued a "sector perform" rating and a $10.30 price objective for the company. Wells Fargo & Company decreased their price target on ZoomInfo Technologies from $19.00 to $14.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Finally, Truist Financial cut their price objective on ZoomInfo Technologies from $16.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $12.72.
View Our Latest Stock Report on ZoomInfo Technologies
Insiders Place Their Bets
In other news, CEO Henry Schuck acquired 492,500 shares of ZoomInfo Technologies stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $10.25 per share, for a total transaction of $5,048,125.00. Following the purchase, the chief executive officer now owns 12,280,501 shares in the company, valued at $125,875,135.25. This trade represents a 4.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.20% of the company's stock.
ZoomInfo Technologies Profile
(
Free Report)
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.
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