ZoomInfo Technologies (NASDAQ:ZI) Shares Gap Down – Should You Sell?

ZoomInfo Technologies Inc. (NASDAQ:ZI) gapped down prior to trading on Monday . The stock had previously closed at $10.64, but opened at $10.39. ZoomInfo Technologies shares last traded at $10.61, with a volume of 448,697 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on ZI. Piper Sandler reissued an “underweight” rating and set a $10.00 target price (down from $11.00) on shares of ZoomInfo Technologies in a research note on Monday. Scotiabank started coverage on shares of ZoomInfo Technologies in a research note on Monday, November 18th. They set a “sector perform” rating and a $10.30 target price on the stock. Barclays lifted their price target on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. KeyCorp downgraded shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.57.

ZoomInfo Technologies Stock Performance

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 stock has a market cap of $3.30 billion, a price-to-earnings ratio of 320.44, a PEG ratio of 13.58 and a beta of 1.01. The stock’s 50 day moving average is $10.88 and its two-hundred day moving average is $10.65.

Insider Buying and Selling

In other news, Director David Randall Winn sold 290,541 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were 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 in the company, valued at approximately $14,010,885.42. This trade represents a 18.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Henry Schuck purchased 492,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 8.10% of the company’s stock.

Institutional Trading of ZoomInfo Technologies

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in ZoomInfo Technologies by 83.4% in the third quarter. Victory Capital Management Inc. now owns 163,708 shares of the company’s stock worth $1,689,000 after acquiring an additional 74,455 shares in the last quarter. Versor Investments LP purchased a new position in shares of ZoomInfo Technologies in the 3rd quarter valued at about $516,000. XTX Topco Ltd acquired a new stake in shares of ZoomInfo Technologies in the third quarter valued at about $895,000. State Street Corp boosted its holdings in ZoomInfo Technologies by 2.0% during the third quarter. State Street Corp now owns 8,626,463 shares of the company’s stock worth $89,025,000 after buying an additional 165,440 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in ZoomInfo Technologies during the third quarter worth about $720,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.