ZoomInfo Technologies Inc. $ZI Stake Increased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its holdings in ZoomInfo Technologies, acquiring an additional 1,875,000 shares, bringing its total ownership to 2,625,000 shares, valued at approximately $26 million.
• Several institutional investors, including Northern Trust Corp and Schonfeld Strategic Advisors LLC, have also boosted their stakes in ZoomInfo Technologies, indicating strong interest from the investment community.
• Recent analyst upgrades have raised the price target for ZoomInfo Technologies, with firms like Barclays and Piper Sandler setting targets as high as $11.00, reflecting positive sentiment towards the stock.

Adage Capital Partners GP L.L.C. lifted its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 250.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,625,000 shares of the company's stock after buying an additional 1,875,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.77% of ZoomInfo Technologies worth $26,250,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its position in shares of ZoomInfo Technologies by 125.3% in the 1st quarter. UMB Bank n.a. now owns 3,396 shares of the company's stock valued at $34,000 after buying an additional 1,889 shares during the last quarter. Brooklyn Investment Group grew its position in shares of ZoomInfo Technologies by 180.5% in the 1st quarter. Brooklyn Investment Group now owns 5,138 shares of the company's stock valued at $51,000 after buying an additional 3,306 shares during the last quarter. GAMMA Investing LLC grew its position in shares of ZoomInfo Technologies by 28.8% in the 1st quarter. GAMMA Investing LLC now owns 6,636 shares of the company's stock valued at $66,000 after buying an additional 1,484 shares during the last quarter. US Bancorp DE grew its position in shares of ZoomInfo Technologies by 32.9% in the 1st quarter. US Bancorp DE now owns 8,458 shares of the company's stock valued at $85,000 after buying an additional 2,092 shares during the last quarter. Finally, AlphaQuest LLC grew its position in shares of ZoomInfo Technologies by 139.6% in the 1st quarter. AlphaQuest LLC now owns 10,213 shares of the company's stock valued at $102,000 after buying an additional 5,951 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

ZoomInfo Technologies Stock Down 0.9%

Shares of NASDAQ ZI traded down $0.10 during trading on Wednesday, reaching $10.55. 3,943,446 shares of the stock were exchanged, compared to its average volume of 7,578,001. The business's 50-day moving average price is $10.42 and its 200 day moving average price is $9.95. ZoomInfo Technologies Inc. has a twelve month low of $7.01 and a twelve month high of $13.39. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 351.78, a price-to-earnings-growth ratio of 13.05 and a beta of 1.02.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ZI shares. Wells Fargo & Company increased their target price on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Barclays increased their price target on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler increased their price target on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ZoomInfo Technologies presently has a consensus rating of "Hold" and a consensus price target of $11.18.

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.