GAMMA Investing LLC Raises Stock Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

GAMMA Investing LLC raised its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI) by 114.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,992 shares of the company’s stock after acquiring an additional 2,134 shares during the period. GAMMA Investing LLC’s holdings in ZoomInfo Technologies were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp grew its holdings 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 worth $34,000 after buying an additional 2,388 shares during the last quarter. Covestor Ltd grew its stake in shares of ZoomInfo Technologies by 598.5% in the 1st quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after purchasing an additional 2,861 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of ZoomInfo Technologies by 45.3% in the first quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock valued at $80,000 after purchasing an additional 1,547 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of ZoomInfo Technologies during the first quarter worth approximately $85,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of ZoomInfo Technologies during the second quarter worth approximately $123,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America cut ZoomInfo Technologies from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $23.00 to $8.00 in a research report on Tuesday, August 6th. DA Davidson cut shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $9.50 in a research note on Tuesday, August 6th. Barclays reduced their price objective on shares of ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their target price on shares of ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a report on Tuesday, August 6th. Finally, KeyCorp lowered ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, August 6th. Four 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 company’s stock. According to MarketBeat.com, ZoomInfo Technologies presently has a consensus rating of “Hold” and a consensus target price of $13.40.

Insiders Place Their Bets

In related news, CEO Henry Schuck acquired 1,500,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $8.49 per share, with a total value of $12,735,000.00. Following the purchase, the chief executive officer now directly owns 11,788,001 shares in the company, valued at $100,080,128.49. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is owned by corporate insiders.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI opened at $10.40 on Friday. ZoomInfo Technologies Inc. has a 1-year low of $7.65 and a 1-year high of $19.39. The firm has a 50 day simple moving average of $9.88 and a 200-day simple moving average of $12.00. The firm has a market cap of $3.80 billion, a PE ratio of 260.07, a P/E/G ratio of 6.29 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.97.

ZoomInfo Technologies (NASDAQ:ZI) last posted 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 business had revenue of $291.50 million for the quarter, compared to analyst estimates of $307.68 million. ZoomInfo Technologies had a return on equity of 10.96% and a net margin of 1.25%. ZoomInfo Technologies’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. On average, equities analysts expect that ZoomInfo Technologies Inc. will post 0.55 EPS 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.