Geode Capital Management LLC Sells 181,525 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Geode Capital Management LLC lessened its position in ZoomInfo Technologies Inc. (NASDAQ:ZI) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,166,042 shares of the company’s stock after selling 181,525 shares during the quarter. Geode Capital Management LLC owned 1.41% of ZoomInfo Technologies worth $53,326,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ZI. FMR LLC increased its stake in ZoomInfo Technologies by 27.7% in the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after purchasing an additional 7,177,687 shares during the period. Pacer Advisors Inc. increased its stake in ZoomInfo Technologies by 8,471.7% in the 2nd quarter. Pacer Advisors Inc. now owns 6,689,198 shares of the company’s stock worth $85,421,000 after buying an additional 6,611,160 shares during the period. Marshall Wace LLP bought a new stake in ZoomInfo Technologies during the 2nd quarter valued at about $73,435,000. Maverick Capital Ltd. bought a new stake in ZoomInfo Technologies during the 3rd quarter valued at about $44,248,000. Finally, Primecap Management Co. CA boosted its position in ZoomInfo Technologies by 97.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,565,440 shares of the company’s stock valued at $26,475,000 after buying an additional 1,267,171 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David Randall Winn sold 290,541 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the transaction, the director now directly owns 1,266,807 shares in the company, valued at $14,010,885.42. This trade represents a 18.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Henry Schuck acquired 492,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $10.25 per share, with a total value of $5,048,125.00. Following the completion of the purchase, the chief executive officer now directly owns 12,280,501 shares of the company’s stock, valued at approximately $125,875,135.25. This represents a 4.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZI. Citigroup lifted their price target 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. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of ZoomInfo Technologies in a report on Wednesday, November 13th. KeyCorp lowered ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research note on Friday, December 13th. Scotiabank initiated coverage on ZoomInfo Technologies in a report on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price objective for the company. Finally, Piper Sandler increased their target price on shares of ZoomInfo Technologies from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.77.

ZoomInfo Technologies Trading Up 3.0 %

Shares of ZoomInfo Technologies stock opened at $10.79 on Monday. The stock has a 50 day moving average of $10.85 and a 200 day moving average of $10.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 359.79, a PEG ratio of 13.58 and a beta of 1.02. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $19.17.

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.