ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Down - Should You Sell?

ZoomInfo Technologies Inc. (NASDAQ:ZI - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $10.64, but opened at $10.39. ZoomInfo Technologies shares last traded at $10.61, with a volume of 448,697 shares changing hands.

Analysts Set New Price Targets

ZI has been the topic of a number of recent analyst reports. KeyCorp cut ZoomInfo Technologies from a "sector weight" rating to an "underweight" rating in a report on Friday, December 13th. Barclays lifted their price objective on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Citigroup increased their target price on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a "sell" rating in a report on Thursday, November 14th. Piper Sandler reiterated an "underweight" rating and set a $10.00 price objective (down previously from $11.00) on shares of ZoomInfo Technologies in a report on Monday. Finally, Scotiabank began coverage on shares of ZoomInfo Technologies in a report on Monday, November 18th. They set a "sector perform" rating and a $10.30 target price on the stock. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.72.

ZoomInfo Technologies Price Performance

The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 349.45, a P/E/G ratio of 13.58 and a beta of 1.01. The company's 50-day simple moving average is $10.90 and its 200-day simple moving average is $10.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63.

Insider Activity at ZoomInfo Technologies

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

Hedge Funds Weigh In On ZoomInfo Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raleigh Capital Management Inc. bought a new stake in shares of ZoomInfo Technologies during the third quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ZoomInfo Technologies during the 3rd quarter valued at $37,000. GAMMA Investing LLC grew its position in ZoomInfo Technologies by 114.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company's stock worth $41,000 after acquiring an additional 2,134 shares during the last quarter. KBC Group NV increased its holdings in ZoomInfo Technologies by 39.0% in the 3rd quarter. KBC Group NV now owns 9,393 shares of the company's stock worth $97,000 after purchasing an additional 2,635 shares in the last quarter. Finally, American Trust bought a new position in ZoomInfo Technologies in the third quarter valued at about $104,000. Institutional investors own 95.47% of the company's stock.

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.