ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Up Following Insider Buying Activity

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s share price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $9.00, but opened at $9.35. ZoomInfo Technologies shares last traded at $9.02, with a volume of 421,577 shares.

Specifically, CTO Ali Dasdan sold 5,862 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total transaction of $69,757.80. Following the sale, the chief technology officer now owns 87,540 shares in the company, valued at $1,041,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Ali Dasdan sold 5,862 shares of ZoomInfo Technologies stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $11.90, for a total transaction of $69,757.80. Following the transaction, the chief technology officer now owns 87,540 shares in the company, valued at $1,041,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Patrick Mader sold 3,112 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $12.78, for a total value of $39,771.36. Following the transaction, the director now directly owns 17,622 shares in the company, valued at $225,209.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,974 shares of company stock valued at $298,154. 8.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley dropped their target price on ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. KeyCorp downgraded ZoomInfo Technologies from an “overweight” rating to a “sector weight” rating in a report on Tuesday, August 6th. The Goldman Sachs Group cut shares of ZoomInfo Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $19.50 to $12.00 in a research note on Wednesday, May 8th. Mizuho decreased their target price on shares of ZoomInfo Technologies from $14.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, DA Davidson downgraded shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $9.50 in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, ZoomInfo Technologies presently has an average rating of “Hold” and a consensus target price of $13.40.

ZoomInfo Technologies Trading Up 5.7 %

The business has a 50-day moving average price of $11.52 and a 200-day moving average price of $14.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.44 billion, a P/E ratio of 46.05, a PEG ratio of 5.51 and a beta of 1.06.

ZoomInfo Technologies (NASDAQ:ZI) last issued its earnings results on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.07). ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $307.68 million. During the same quarter last year, the firm posted $0.16 earnings per share. ZoomInfo Technologies’s revenue was down 5.5% on a year-over-year basis. Analysts anticipate that ZoomInfo Technologies Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On ZoomInfo Technologies

Several large investors have recently made changes to their positions in the company. Boston Partners bought a new stake in ZoomInfo Technologies during the 1st quarter worth approximately $613,000. Norges Bank acquired a new stake in shares of ZoomInfo Technologies in the fourth quarter valued at $55,448,000. Bailard Inc. lifted its position in ZoomInfo Technologies by 420.0% during the 4th quarter. Bailard Inc. now owns 129,595 shares of the company’s stock worth $2,396,000 after buying an additional 104,675 shares in the last quarter. Janus Henderson Group PLC grew its holdings in ZoomInfo Technologies by 7.1% during the 1st quarter. Janus Henderson Group PLC now owns 258,222 shares of the company’s stock worth $4,140,000 after acquiring an additional 17,193 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new stake in ZoomInfo Technologies in the 4th quarter valued at about $3,072,000. Institutional investors own 95.47% of the company’s stock.

About ZoomInfo Technologies

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.