ZoomInfo Technologies (NASDAQ:ZI) Sees Strong Trading Volume – What’s Next?

Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) saw an uptick in trading volume on Monday . 15,912,921 shares changed hands during mid-day trading, an increase of 77% from the previous session’s volume of 8,973,491 shares.The stock last traded at $9.60 and had previously closed at $9.43.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ZI shares. Wells Fargo & Company reissued an “equal weight” rating and set a $11.00 price target (down previously from $14.00) on shares of ZoomInfo Technologies in a research report on Tuesday, January 7th. Barclays upped their target price on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Citigroup lifted their price objective on ZoomInfo Technologies from $7.00 to $8.50 and gave the stock a “sell” rating in a report on Thursday, November 14th. Piper Sandler reiterated an “underweight” rating and issued a $10.00 price target (down from $11.00) on shares of ZoomInfo Technologies in a research report on Monday, January 6th. Finally, KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday, December 13th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.57.

ZoomInfo Technologies Price Performance

The firm has a market capitalization of $3.40 billion, a P/E ratio of 330.44, 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 firm has a 50 day moving average price of $10.74 and a 200-day moving average price of $10.55.

Insiders Place Their Bets

In other news, CEO Henry Schuck purchased 492,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the acquisition, the chief executive officer now owns 12,280,501 shares of the company’s stock, valued at approximately $125,875,135.25. This trade represents a 4.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Randall Winn sold 290,541 shares of the company’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 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 owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZI. Raleigh Capital Management Inc. purchased a new stake in shares of ZoomInfo Technologies during the third quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in ZoomInfo Technologies during the 3rd quarter worth $37,000. GAMMA Investing LLC increased its position in ZoomInfo Technologies by 114.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock valued at $41,000 after buying an additional 2,134 shares in the last quarter. KBC Group NV increased its stake in ZoomInfo Technologies by 39.0% during the 3rd quarter. KBC Group NV now owns 9,393 shares of the company’s stock valued at $97,000 after purchasing an additional 2,635 shares in the last quarter. Finally, American Trust acquired a new stake in ZoomInfo Technologies during the 3rd quarter worth about $104,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.