ZoomInfo Technologies (NASDAQ:GTM) Shares Down 7% – Here’s What Happened

ZoomInfo Technologies Inc. (NASDAQ:GTM) traded down 7% during mid-day trading on Monday. The company traded as low as $3.34 and last traded at $3.2550. 538,688 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 8,898,333 shares. The stock had previously closed at $3.50.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler raised ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $3.00 to $4.00 in a report on Thursday. UBS Group reduced their price target on shares of ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Needham & Company LLC decreased their price target on shares of ZoomInfo Technologies from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday. DA Davidson decreased their price target on shares of ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Finally, Stifel Nicolaus raised their price objective on shares of ZoomInfo Technologies from $3.50 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, ZoomInfo Technologies currently has an average rating of “Reduce” and a consensus target price of $5.32.

ZoomInfo Technologies Price Performance

The company has a market cap of $956.30 million, a price-to-earnings ratio of -1.66, a PEG ratio of 0.58 and a beta of 0.79. The company has a 50-day simple moving average of $3.99 and a 200-day simple moving average of $4.68. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.66 and a current ratio of 0.66.

ZoomInfo Technologies (NASDAQ:GTM) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.21 by $0.08. ZoomInfo Technologies had a negative net margin of 46.26% and a positive return on equity of 22.80%. The firm had revenue of $308.80 million during the quarter. During the same quarter last year, the business earned $0.28 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts predict that ZoomInfo Technologies Inc. will post 0.83 earnings per share for the current year.

Insider Activity

In other news, CRO James Roth sold 20,773 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $3.70, for a total transaction of $76,860.10. Following the completion of the sale, the executive directly owned 270,507 shares of the company’s stock, valued at $1,000,875.90. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 29,135 shares of company stock worth $109,908. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its position in shares of ZoomInfo Technologies by 18.5% in the third quarter. Crossmark Global Holdings Inc. now owns 18,502 shares of the company’s stock worth $70,000 after acquiring an additional 2,882 shares in the last quarter. Ullmann Wealth Partners Group LLC lifted its holdings in shares of ZoomInfo Technologies by 33.0% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 16,346 shares of the company’s stock valued at $62,000 after acquiring an additional 4,055 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of ZoomInfo Technologies by 105.1% during the 1st quarter. Parallel Advisors LLC now owns 7,975 shares of the company’s stock valued at $48,000 after acquiring an additional 4,086 shares in the last quarter. GAMMA Investing LLC boosted its position in ZoomInfo Technologies by 118.5% during the 3rd quarter. GAMMA Investing LLC now owns 8,055 shares of the company’s stock worth $31,000 after purchasing an additional 4,369 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in ZoomInfo Technologies by 13.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 44,184 shares of the company’s stock worth $264,000 after purchasing an additional 5,203 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies provides cloud-based go-to-market intelligence and sales-enablement software for businesses. Its platform helps organizations identify prospective customers, understand account and contact information, monitor business activity, and coordinate sales and marketing efforts. The company serves customers across a range of industries and geographies, primarily through subscription-based software services.

Its product portfolio has included SalesOS, MarketingOS, OperationsOS and related tools designed to support business-to-business prospecting, account-based marketing, data management and revenue operations.