ZoomInfo Technologies Inc. (NASDAQ:ZI – Get Rating)’s stock price fell 7.8% on Thursday after Stifel Nicolaus lowered their price target on the stock from $50.00 to $40.00. The stock traded as low as $25.00 and last traded at $25.06. 63,794 shares were traded during mid-day trading, a decline of 99% from the average session volume of 5,304,403 shares. The stock had previously closed at $27.17.
Several other brokerages have also commented on ZI. Canaccord Genuity Group decreased their price objective on shares of ZoomInfo Technologies from $56.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. Bank of America decreased their price objective on shares of ZoomInfo Technologies from $64.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. Mizuho decreased their price objective on shares of ZoomInfo Technologies from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. Canaccord Genuity Group decreased their price objective on shares of ZoomInfo Technologies from $56.00 to $48.00 in a report on Wednesday, November 2nd. Finally, Raymond James decreased their price objective on shares of ZoomInfo Technologies from $65.00 to $41.00 in a report on Wednesday, November 2nd. Fifteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $51.47.
Insider Buying and Selling
In other news, COO Joseph Christopher Hays sold 17,797 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $41.97, for a total value of $746,940.09. Following the completion of the sale, the chief operating officer now owns 577,329 shares in the company, valued at approximately $24,230,498.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Nir Keren sold 15,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $41.25, for a total value of $618,750.00. Following the completion of the sale, the insider now owns 1,055,458 shares in the company, valued at approximately $43,537,642.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph Christopher Hays sold 17,797 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $41.97, for a total transaction of $746,940.09. Following the completion of the sale, the chief operating officer now owns 577,329 shares of the company’s stock, valued at approximately $24,230,498.13. The disclosure for this sale can be found here. Insiders sold a total of 42,797 shares of company stock worth $1,801,140 in the last 90 days. Company insiders own 9.70% of the company’s stock.
Institutional Trading of ZoomInfo Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in ZoomInfo Technologies by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 28,188,768 shares of the company’s stock valued at $1,174,345,000 after acquiring an additional 2,843,150 shares in the last quarter. State Street Corp increased its holdings in ZoomInfo Technologies by 71.7% during the 2nd quarter. State Street Corp now owns 5,874,049 shares of the company’s stock valued at $195,253,000 after acquiring an additional 2,453,367 shares in the last quarter. Dragoneer Investment Group LLC increased its holdings in ZoomInfo Technologies by 134.2% during the 1st quarter. Dragoneer Investment Group LLC now owns 3,943,215 shares of the company’s stock valued at $235,568,000 after acquiring an additional 2,259,831 shares in the last quarter. Capital World Investors increased its holdings in ZoomInfo Technologies by 7.1% during the 1st quarter. Capital World Investors now owns 28,215,665 shares of the company’s stock valued at $1,685,604,000 after acquiring an additional 1,872,595 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in ZoomInfo Technologies by 33.5% during the 1st quarter. Jennison Associates LLC now owns 7,462,240 shares of the company’s stock valued at $445,794,000 after acquiring an additional 1,871,380 shares in the last quarter. Institutional investors and hedge funds own 91.42% of the company’s stock.
ZoomInfo Technologies Price Performance
The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.28 and a current ratio of 1.28. The company’s fifty day simple moving average is $40.73 and its two-hundred day simple moving average is $40.84. The stock has a market capitalization of $10.11 billion, a PE ratio of 54.48, a P/E/G ratio of 2.29 and a beta of 1.29.
ZoomInfo Technologies Company Profile
ZoomInfo Technologies Inc, through 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.