Bank of America Corp DE Trims Stake in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Bank of America Corp DE lowered its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 549,186 shares of the company's stock after selling 258,871 shares during the period. Bank of America Corp DE owned approximately 0.16% of ZoomInfo Technologies worth $5,772,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in ZoomInfo Technologies in the fourth quarter valued at approximately $3,870,000. One68 Global Capital LLC acquired a new stake in ZoomInfo Technologies in the fourth quarter valued at approximately $210,000. Jericho Capital Asset Management L.P. acquired a new stake in ZoomInfo Technologies in the fourth quarter valued at approximately $116,622,000. Schonfeld Strategic Advisors LLC grew its stake in ZoomInfo Technologies by 107.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 49,633 shares of the company's stock valued at $522,000 after acquiring an additional 25,691 shares during the period. Finally, Northern Trust Corp grew its stake in ZoomInfo Technologies by 20.7% in the fourth quarter. Northern Trust Corp now owns 2,465,962 shares of the company's stock valued at $25,917,000 after acquiring an additional 422,683 shares during the period. Institutional investors and hedge funds own 95.47% of the company's stock.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ ZI traded up $0.23 during mid-day trading on Friday, hitting $9.55. The company had a trading volume of 5,613,932 shares, compared to its average volume of 7,393,437. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 318.44, a P/E/G ratio of 13.05 and a beta of 1.02. ZoomInfo Technologies Inc. has a 1 year low of $7.01 and a 1 year high of $13.39. 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's 50-day moving average price is $9.03 and its 200-day moving average price is $10.02.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $305.70 million during the quarter, compared to analysts' expectations of $295.60 million. ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. On average, sell-side analysts forecast that ZoomInfo Technologies Inc. will post 0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Scotiabank lifted their target price on ZoomInfo Technologies from $10.30 to $11.00 and gave the company a "sector perform" rating in a research report on Thursday, February 27th. Barclays lifted their target price on ZoomInfo Technologies from $9.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group lifted their target price on ZoomInfo Technologies from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their target price on ZoomInfo Technologies from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler lifted their price target on ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $10.63.

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.