Principal Financial Group Inc. Has $6.92 Million Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Principal Financial Group Inc. trimmed its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 29.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 670,268 shares of the company’s stock after selling 278,128 shares during the quarter. Principal Financial Group Inc. owned 0.18% of ZoomInfo Technologies worth $6,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. J.Safra Asset Management Corp grew its position in shares of ZoomInfo Technologies by 955.2% in the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock valued at $34,000 after purchasing an additional 2,388 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in shares of ZoomInfo Technologies in the third quarter worth approximately $31,000. Covestor Ltd raised its stake in shares of ZoomInfo Technologies by 598.5% during the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock valued at $54,000 after acquiring an additional 2,861 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ZoomInfo Technologies in the 3rd quarter worth approximately $37,000. Finally, GAMMA Investing LLC increased its position in ZoomInfo Technologies by 114.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after purchasing an additional 2,134 shares during the period. 95.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Henry Schuck acquired 492,500 shares of ZoomInfo Technologies stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZI. Deutsche Bank Aktiengesellschaft dropped their price target on ZoomInfo Technologies from $17.00 to $12.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. KeyCorp downgraded shares of ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a report on Tuesday, August 6th. Daiwa Capital Markets downgraded ZoomInfo Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $9.00 in a research note on Tuesday, August 13th. Raymond James cut shares of ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company cut their price objective on shares of ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. 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 company. Based on data from MarketBeat.com, ZoomInfo Technologies presently has a consensus rating of “Hold” and an average target price of $12.72.

ZoomInfo Technologies Trading Up 2.0 %

Shares of NASDAQ:ZI opened at $9.90 on Wednesday. ZoomInfo Technologies Inc. has a 12-month low of $7.65 and a 12-month high of $19.39. The business’s fifty day simple moving average is $10.53 and its 200-day simple moving average is $11.15. The company has a market capitalization of $3.62 billion, a PE ratio of 330.00, a P/E/G ratio of 6.20 and a beta of 1.03. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73.

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.