Point72 Asset Management L.P. Buys 1,419,665 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Point72 Asset Management L.P. raised its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI) by 373.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,799,665 shares of the company’s stock after buying an additional 1,419,665 shares during the period. Point72 Asset Management L.P. owned about 0.52% of ZoomInfo Technologies worth $18,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new position in shares of ZoomInfo Technologies during the 4th quarter worth $378,000. Quantinno Capital Management LP increased its position in ZoomInfo Technologies by 51.0% during the 4th quarter. Quantinno Capital Management LP now owns 243,323 shares of the company’s stock valued at $2,557,000 after purchasing an additional 82,155 shares during the period. Nomura Holdings Inc. raised its holdings in shares of ZoomInfo Technologies by 193.0% in the 4th quarter. Nomura Holdings Inc. now owns 53,234 shares of the company’s stock valued at $559,000 after purchasing an additional 35,066 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of ZoomInfo Technologies by 10,360.8% in the 4th quarter. Lazard Asset Management LLC now owns 18,934 shares of the company’s stock worth $197,000 after purchasing an additional 18,753 shares during the period. Finally, Ionic Capital Management LLC bought a new position in shares of ZoomInfo Technologies during the fourth quarter valued at approximately $1,839,000. 95.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup boosted their price objective on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, February 11th. Barclays boosted their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. DA Davidson dropped their price objective on ZoomInfo Technologies from $13.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Mizuho reduced their target price on shares of ZoomInfo Technologies from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler raised their price target on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.63.

ZoomInfo Technologies Price Performance

NASDAQ ZI opened at $10.20 on Friday. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 340.11, a PEG ratio of 13.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s fifty day moving average price is $9.25 and its 200 day moving average price is $10.16. ZoomInfo Technologies Inc. has a 1 year low of $7.01 and a 1 year high of $13.39.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. The business had revenue of $305.70 million for the quarter, compared to analyst estimates of $295.60 million. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that ZoomInfo Technologies Inc. will post 0.59 earnings per share for the current year.

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.