Principal Street Partners LLC Sells 982,838 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Principal Street Partners LLC cut its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 50.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 970,347 shares of the company’s stock after selling 982,838 shares during the quarter. ZoomInfo Technologies accounts for 1.6% of Principal Street Partners LLC’s holdings, making the stock its 9th largest position. Principal Street Partners LLC owned 0.27% of ZoomInfo Technologies worth $10,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZI. FMR LLC lifted its position in ZoomInfo Technologies by 27.7% during 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. raised its position in shares of ZoomInfo Technologies by 8,471.7% in the 2nd quarter. Pacer Advisors Inc. now owns 6,689,198 shares of the company’s stock valued at $85,421,000 after buying an additional 6,611,160 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of ZoomInfo Technologies during the 2nd quarter worth approximately $73,435,000. Primecap Management Co. CA boosted its position in shares of ZoomInfo Technologies by 97.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,565,440 shares of the company’s stock worth $26,475,000 after acquiring an additional 1,267,171 shares in the last quarter. Finally, Swedbank AB bought a new position in ZoomInfo Technologies in the first quarter valued at approximately $14,026,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on ZI. Royal Bank of Canada reduced their price objective on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 6th. DA Davidson lowered shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $9.50 in a report on Tuesday, August 6th. Wells Fargo & Company lowered their price objective on shares of ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Mizuho boosted their target price on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of ZoomInfo Technologies in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.72.

ZoomInfo Technologies Stock Performance

Shares of ZI stock opened at $10.75 on Tuesday. The firm has a 50 day moving average of $10.56 and a 200-day moving average of $11.05. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 362.12, a price-to-earnings-growth ratio of 13.88 and a beta of 1.03. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. ZoomInfo Technologies Inc. has a 52 week low of $7.65 and a 52 week high of $19.39.

Insider Activity

In other ZoomInfo Technologies news, CEO Henry Schuck purchased 492,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the purchase, the chief executive officer now owns 12,280,501 shares of the company’s stock, valued at $125,875,135.25. This trade represents a 4.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by company insiders.

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.