M&G Plc Takes $9.53 Million Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

M&G Plc purchased a new position in ZoomInfo Technologies Inc. (NASDAQ:ZI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 733,377 shares of the company’s stock, valued at approximately $9,534,000. M&G Plc owned 0.20% of ZoomInfo Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Coatue Management LLC purchased a new position in ZoomInfo Technologies during the fourth quarter valued at $120,619,000. Franklin Resources Inc. boosted its stake in ZoomInfo Technologies by 52,230.4% in the 4th quarter. Franklin Resources Inc. now owns 6,055,152 shares of the company’s stock worth $111,960,000 after purchasing an additional 6,043,581 shares in the last quarter. Norges Bank purchased a new stake in ZoomInfo Technologies during the 4th quarter valued at about $55,448,000. Delta Global Management LP increased its stake in ZoomInfo Technologies by 280.1% during the 1st quarter. Delta Global Management LP now owns 2,593,618 shares of the company’s stock valued at $41,576,000 after purchasing an additional 1,911,221 shares in the last quarter. Finally, Kinetic Partners Management LP lifted its stake in shares of ZoomInfo Technologies by 95.4% in the first quarter. Kinetic Partners Management LP now owns 2,715,500 shares of the company’s stock worth $43,529,000 after buying an additional 1,325,500 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Stock Up 5.7 %

Shares of ZI stock opened at $9.21 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.97. ZoomInfo Technologies Inc. has a one year low of $7.65 and a one year high of $19.39. The company’s fifty day moving average price is $11.52 and its 200-day moving average price is $14.06. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 46.05, a PEG ratio of 5.51 and a beta of 1.06.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.07). The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $307.68 million. ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. ZoomInfo Technologies’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. Sell-side analysts expect that ZoomInfo Technologies Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZI has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their price target on ZoomInfo Technologies from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. UBS Group decreased their price objective on shares of ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. KeyCorp lowered shares of ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company dropped their price target on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Piper Sandler reduced their price objective on ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ZoomInfo Technologies has an average rating of “Hold” and a consensus price target of $13.40.

Insider Transactions at ZoomInfo Technologies

In related news, CFO Peter Cameron Hyzer sold 7,500 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $12.78, for a total value of $95,850.00. Following the sale, the chief financial officer now directly owns 1,279,023 shares in the company, valued at $16,345,913.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Ali Dasdan sold 5,862 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total value of $69,757.80. Following the completion of the transaction, the chief technology officer now owns 87,540 shares of the company’s stock, valued at approximately $1,041,726. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter Cameron Hyzer sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total value of $95,850.00. Following the sale, the chief financial officer now directly owns 1,279,023 shares in the company, valued at $16,345,913.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,974 shares of company stock valued at $298,154. 8.10% of the stock is currently owned by corporate insiders.

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.