Wells Fargo & Company Reiterates “Equal Weight” Rating for ZoomInfo Technologies (NASDAQ:ZI)

ZoomInfo Technologies (NASDAQ:ZI)‘s stock had its “equal weight” rating restated by equities research analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $14.00. Wells Fargo & Company‘s target price would suggest a potential upside of 14.46% from the company’s current price.

Several other analysts have also commented on ZI. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of ZoomInfo Technologies in a report on Wednesday, November 13th. Barclays boosted their price objective on 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 assumed coverage on shares of ZoomInfo Technologies in a report on Monday, November 18th. They set a “sector perform” rating and a $10.30 price target for the company. Citigroup raised their target price on ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a “sell” rating in a research note on Thursday, November 14th. Finally, KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday, December 13th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, ZoomInfo Technologies has a consensus rating of “Hold” and a consensus target price of $12.57.

ZoomInfo Technologies Stock Down 5.2 %

Shares of ZI stock opened at $9.61 on Tuesday. The stock’s 50-day simple moving average is $10.86 and its 200-day simple moving average is $10.64. The firm has a market capitalization of $3.30 billion, a PE ratio of 320.44, a P/E/G ratio of 13.58 and a beta of 1.01. ZoomInfo Technologies has a fifty-two week low of $7.65 and a fifty-two week high of $18.69. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63.

Insider Buying and Selling at ZoomInfo Technologies

In related news, CEO Henry Schuck purchased 492,500 shares of the firm’s stock in a transaction that occurred 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 purchase, the chief executive officer now directly owns 12,280,501 shares in the company, valued at $125,875,135.25. This represents 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 the SEC website. Also, Director David Randall Winn sold 290,541 shares of ZoomInfo Technologies stock in a transaction on 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 of the company’s stock, valued at approximately $14,010,885.42. The trade was 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.

Institutional Investors Weigh In On ZoomInfo Technologies

Several large investors have recently bought and sold shares of ZI. FMR LLC grew its holdings 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 purchasing an additional 7,177,687 shares during the period. Pacer Advisors Inc. increased its stake in ZoomInfo Technologies by 38.7% during the 3rd quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock worth $95,716,000 after acquiring an additional 2,585,631 shares during the period. State Street Corp increased its position in shares of ZoomInfo Technologies by 2.0% in the third quarter. State Street Corp now owns 8,626,463 shares of the company’s stock worth $89,025,000 after purchasing an additional 165,440 shares during the period. Marshall Wace LLP acquired a new position in shares of ZoomInfo Technologies in the 2nd quarter valued at approximately $73,435,000. Finally, Maverick Capital Ltd. bought a new stake in ZoomInfo Technologies during the third quarter worth $44,248,000. 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.