Wellington Management Group LLP Has $464.05 Million Stake in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Wellington Management Group LLP decreased its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,097,536 shares of the company’s stock after selling 4,473,368 shares during the quarter. Wellington Management Group LLP owned 6.61% of ZoomInfo Technologies worth $464,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in ZoomInfo Technologies in the fourth quarter valued at approximately $55,448,000. Bailard Inc. lifted its position in ZoomInfo Technologies by 420.0% in the 4th quarter. Bailard Inc. now owns 129,595 shares of the company’s stock valued at $2,396,000 after acquiring an additional 104,675 shares in the last quarter. Aquila Investment Management LLC boosted its stake in ZoomInfo Technologies by 155.8% in the 4th quarter. Aquila Investment Management LLC now owns 243,000 shares of the company’s stock worth $4,493,000 after purchasing an additional 148,000 shares during the period. Kodai Capital Management LP bought a new position in ZoomInfo Technologies during the 4th quarter worth about $3,072,000. Finally, G2 Investment Partners Management LLC acquired a new stake in shares of ZoomInfo Technologies in the 4th quarter valued at about $2,188,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ZI shares. The Goldman Sachs Group cut ZoomInfo Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $19.50 to $12.00 in a research report on Wednesday, May 8th. KeyCorp reduced their price objective on ZoomInfo Technologies from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. UBS Group reduced their price objective on ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Barclays reduced their price objective on ZoomInfo Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Finally, Citigroup reduced their price objective on ZoomInfo Technologies from $13.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.00.

Insider Transactions at ZoomInfo Technologies

In related news, CTO Ali Dasdan sold 5,862 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $11.90, for a total transaction of $69,757.80. Following the sale, the chief technology officer now owns 87,540 shares of the company’s stock, valued at $1,041,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is owned by corporate insiders.

ZoomInfo Technologies Price Performance

Shares of NASDAQ ZI opened at $12.38 on Monday. The firm has a market cap of $4.63 billion, a P/E ratio of 61.90, a price-to-earnings-growth ratio of 2.97 and a beta of 1.06. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.61. ZoomInfo Technologies Inc. has a 1-year low of $11.67 and a 1-year high of $30.16. The business’s 50 day moving average is $14.11 and its 200-day moving average is $15.65.

ZoomInfo Technologies (NASDAQ:ZI) last announced its earnings results on Tuesday, May 7th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $310.10 million for the quarter, compared to analyst estimates of $308.84 million. ZoomInfo Technologies had a return on equity of 12.00% and a net margin of 6.24%. Equities research analysts predict that ZoomInfo Technologies Inc. will post 0.69 earnings per share for the current year.

ZoomInfo Technologies Company 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.