Piper Sandler Reaffirms “Underweight” Rating for ZoomInfo Technologies (NASDAQ:ZI)

ZoomInfo Technologies (NASDAQ:ZI)‘s stock had its “underweight” rating restated by research analysts at Piper Sandler in a research report issued on Monday, Marketbeat.com reports. They currently have a $10.00 price objective on the stock, down from their previous price objective of $11.00. Piper Sandler’s price target indicates a potential downside of 1.38% from the stock’s previous close.

A number of other equities research analysts have also weighed in 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. KeyCorp lowered ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Mizuho raised their price target on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Barclays increased their price objective on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Citigroup boosted their target price on ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.57.

ZoomInfo Technologies Stock Down 3.2 %

Shares of NASDAQ ZI opened at $10.14 on Monday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 338.11, a PEG ratio of 13.58 and a beta of 1.01. 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 50-day moving average price of $10.88 and a two-hundred day moving average price of $10.65. ZoomInfo Technologies has a 12 month low of $7.65 and a 12 month high of $18.69.

Insider Activity

In related news, CEO Henry Schuck bought 492,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were 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. The trade was a 4.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Randall Winn sold 290,541 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total value of $3,213,383.46. Following the completion of the sale, the director now directly owns 1,266,807 shares of the company’s stock, valued at $14,010,885.42. This represents a 18.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

Institutional Trading of ZoomInfo Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in ZI. FMR LLC grew its holdings in shares of 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 in the last quarter. Pacer Advisors Inc. raised its stake in shares of ZoomInfo Technologies by 38.7% during the third 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 in the last quarter. State Street Corp lifted its stake in 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 last quarter. Marshall Wace LLP bought a new stake in shares of ZoomInfo Technologies in the 2nd quarter valued at about $73,435,000. Finally, Maverick Capital Ltd. bought a new stake in ZoomInfo Technologies in the third quarter valued at approximately $44,248,000. 95.47% of the stock is currently owned by 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.