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

Wells Fargo & Company reiterated their equal weight rating on shares of ZoomInfo Technologies (NASDAQ:ZI) in a report published on Tuesday, MarketBeat reports. They currently have a $11.00 price target on the stock, down from their prior price target of $14.00.

Several other brokerages have also issued reports on ZI. Citigroup increased their price target on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a “sell” rating in a research note on Thursday, November 14th. Piper Sandler reaffirmed an “underweight” rating and set a $10.00 target price (down previously from $11.00) on shares of ZoomInfo Technologies in a research note on Monday. Mizuho boosted their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Barclays upped their price target 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. Finally, Scotiabank started coverage on ZoomInfo Technologies in a research note on Monday, November 18th. They set a “sector perform” rating and a $10.30 price objective for the company. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, ZoomInfo Technologies currently has an average rating of “Hold” and a consensus price target of $12.57.

ZoomInfo Technologies Price Performance

ZI opened at $9.61 on Tuesday. ZoomInfo Technologies has a 12-month low of $7.65 and a 12-month high of $18.69. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 320.44, a price-to-earnings-growth 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 fifty day simple moving average of $10.83 and a two-hundred day simple moving average of $10.64.

Insider Activity

In other ZoomInfo Technologies news, CTO Ali Dasdan sold 4,898 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total value of $53,926.98. Following the transaction, the chief technology officer now owns 118,659 shares of the company’s stock, valued at approximately $1,306,435.59. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Henry Schuck purchased 492,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $10.25 per share, with a total value of $5,048,125.00. Following the completion of the purchase, the chief executive officer now owns 12,280,501 shares in the company, valued at approximately $125,875,135.25. This trade represents a 4.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of ZoomInfo Technologies by 27.7% during the 3rd quarter. FMR LLC now owns 33,053,422 shares of the company’s stock valued at $341,111,000 after acquiring an additional 7,177,687 shares during the period. Pacer Advisors Inc. lifted its position in ZoomInfo Technologies by 38.7% during the third quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock valued at $95,716,000 after purchasing an additional 2,585,631 shares in the last quarter. State Street Corp grew its holdings in ZoomInfo Technologies by 2.0% during the third quarter. State Street Corp now owns 8,626,463 shares of the company’s stock valued at $89,025,000 after purchasing an additional 165,440 shares during the period. Marshall Wace LLP purchased a new stake in ZoomInfo Technologies in the second quarter worth about $73,435,000. Finally, Maverick Capital Ltd. bought a new position in shares of ZoomInfo Technologies in the third quarter worth about $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.