The Manufacturers Life Insurance Company Decreases Stock Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

The Manufacturers Life Insurance Company trimmed its holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 248,805 shares of the company’s stock after selling 7,398 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of ZoomInfo Technologies worth $2,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new position in ZoomInfo Technologies in the 3rd quarter valued at about $31,000. 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ZoomInfo Technologies during the third quarter worth about $37,000. GAMMA Investing LLC raised its position in shares of ZoomInfo Technologies by 114.9% in the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after buying an additional 2,134 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of ZoomInfo Technologies by 39.0% during the third quarter. KBC Group NV now owns 9,393 shares of the company’s stock valued at $97,000 after buying an additional 2,635 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ZoomInfo Technologies news, CEO Henry Schuck purchased 492,500 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $10.25 per share, with a total value of $5,048,125.00. Following the completion of the acquisition, the chief executive officer now owns 12,280,501 shares of the company’s stock, valued at approximately $125,875,135.25. This trade represents a 4.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Randall Winn sold 290,541 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the transaction, the director now owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. This represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ZI shares. Scotiabank began coverage on ZoomInfo Technologies in a report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price target for the company. Daiwa America downgraded shares of ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Barclays 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 note on Friday. Finally, Citigroup increased their target price on ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a “sell” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, ZoomInfo Technologies presently has an average rating of “Hold” and an average target price of $12.77.

ZoomInfo Technologies Price Performance

ZI opened at $11.04 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $10.68 and its 200 day moving average price is $10.92. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $19.39. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 368.12, a price-to-earnings-growth ratio of 14.42 and a beta of 1.02.

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.