JPMorgan Chase & Co. Cuts Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

JPMorgan Chase & Co. reduced its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 28.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,497,398 shares of the company’s stock after selling 1,794,274 shares during the period. JPMorgan Chase & Co. owned approximately 1.31% of ZoomInfo Technologies worth $46,413,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in ZoomInfo Technologies by 27.7% during the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after acquiring an additional 7,177,687 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of ZoomInfo Technologies by 8,471.7% during the 2nd quarter. Pacer Advisors Inc. now owns 6,689,198 shares of the company’s stock worth $85,421,000 after purchasing an additional 6,611,160 shares during the last quarter. Marshall Wace LLP purchased a new stake in ZoomInfo Technologies in the 2nd quarter valued at approximately $73,435,000. Maverick Capital Ltd. acquired a new stake in ZoomInfo Technologies during the 3rd quarter valued at $44,248,000. Finally, Primecap Management Co. CA increased its position in ZoomInfo Technologies by 97.6% during the third quarter. Primecap Management Co. CA now owns 2,565,440 shares of the company’s stock worth $26,475,000 after buying an additional 1,267,171 shares in the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

ZoomInfo Technologies Stock Performance

ZoomInfo Technologies stock opened at $10.64 on Monday. ZoomInfo Technologies Inc. has a 52 week low of $7.65 and a 52 week high of $18.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3.65 billion, a P/E ratio of 354.78, a price-to-earnings-growth ratio of 13.58 and a beta of 1.02. The stock has a 50 day moving average of $10.90 and a 200-day moving average of $10.68.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on ZoomInfo Technologies from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Barclays raised their price target 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. Scotiabank initiated coverage on shares of ZoomInfo Technologies in a research report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price objective for the company. Mizuho raised their target price on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price target on ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.77.

Insider Transactions at ZoomInfo Technologies

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

ZoomInfo Technologies 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.