ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Up on Insider Buying Activity

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s share price gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $9.90, but opened at $10.47. ZoomInfo Technologies shares last traded at $10.65, with a volume of 1,655,211 shares trading hands.

Specifically, CEO Henry Schuck acquired 492,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average price 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZI. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on ZoomInfo Technologies from $17.00 to $12.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. DA Davidson downgraded ZoomInfo Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $9.50 in a research note on Tuesday, August 6th. Mizuho lifted their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company cut their price objective on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.72.

ZoomInfo Technologies Stock Up 7.3 %

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 354.12, a P/E/G ratio of 5.89 and a beta of 1.03. The stock’s fifty day simple moving average is $10.55 and its two-hundred day simple moving average is $11.15.

Institutional Investors Weigh In On ZoomInfo Technologies

Several hedge funds have recently bought and sold shares of ZI. Boston Partners acquired a new position in ZoomInfo Technologies during the first quarter worth $613,000. Janus Henderson Group PLC raised its position in shares of ZoomInfo Technologies by 7.1% during the first quarter. Janus Henderson Group PLC now owns 258,222 shares of the company’s stock valued at $4,140,000 after buying an additional 17,193 shares during the last quarter. M&G Plc acquired a new stake in ZoomInfo Technologies during the second quarter worth about $9,534,000. Tidal Investments LLC bought a new position in ZoomInfo Technologies during the first quarter valued at about $2,113,000. Finally, Versor Investments LP acquired a new position in shares of ZoomInfo Technologies in the third quarter valued at $516,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.