Principal Street Partners LLC Has $10.01 Million Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

by · The Cerbat Gem

Principal Street Partners LLC lowered its position in ZoomInfo Technologies Inc. (NASDAQ:ZI – Free Report) by 50.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 970,347 shares of the company’s stock after selling 982,838 shares during the period. ZoomInfo Technologies comprises about 1.6% of Principal Street Partners LLC’s portfolio, making the stock its 9th largest position. Principal Street Partners LLC’s holdings in ZoomInfo Technologies were worth $10,014,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ZI. Raleigh Capital Management Inc. bought a new stake in ZoomInfo Technologies during the third quarter worth $31,000. J.Safra Asset Management Corp increased its position in shares of ZoomInfo Technologies by 955.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock valued at $34,000 after purchasing an additional 2,388 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ZoomInfo Technologies in the 3rd quarter worth about $37,000. GAMMA Investing LLC grew its position in ZoomInfo Technologies by 114.9% during the third 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 during the period. Finally, Advisors Asset Management Inc. increased its holdings in ZoomInfo Technologies by 45.3% during the first quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock worth $80,000 after buying an additional 1,547 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

Insider Transactions at ZoomInfo Technologies

In related news, CEO Henry Schuck bought 492,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the transaction, the chief executive officer now directly owns 12,280,501 shares in the company, valued at $125,875,135.25. This trade represents a 4.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.20% of the company’s stock.

ZoomInfo Technologies Stock Performance

ZoomInfo Technologies stock opened at $10.75 on Tuesday. The firm’s 50 day simple moving average is $10.56 and its 200 day simple moving average is $11.05. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. ZoomInfo Technologies Inc. has a 1-year low of $7.65 and a 1-year high of $19.39. The firm has a market capitalization of $3.69 billion, a PE ratio of 362.12, a price-to-earnings-growth ratio of 13.88 and a beta of 1.03.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a research note on Thursday, November 14th. Bank of America downgraded ZoomInfo Technologies from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $23.00 to $8.00 in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their target price on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating for the company in a research report on Tuesday, August 6th. Daiwa America cut ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Piper Sandler increased their price target on ZoomInfo Technologies from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.72.

Read Our Latest Research Report on ZoomInfo Technologies

ZoomInfo Technologies Profile

(Free Report)

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.

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