BIT Capital GmbH Sells 558,508 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Key Points

• BIT Capital GmbH drastically reduced its stake in ZoomInfo Technologies by 95.4%, selling 558,508 shares during the first quarter and ending with a holding of 26,663 shares valued at $267,000.
• Several institutional investors have increased their positions in ZoomInfo, with LSV Asset Management leading the way by raising its holdings by 2,528.2%.
• ZoomInfo Technologies reported quarterly earnings of $0.23 EPS, slightly exceeding expectations, but its revenue declined 1.4% year-over-year, totaling $305.70 million.

BIT Capital GmbH lowered its position in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 95.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,663 shares of the company's stock after selling 558,508 shares during the quarter. BIT Capital GmbH's holdings in ZoomInfo Technologies were worth $267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ZI. Jericho Capital Asset Management L.P. acquired a new position in shares of ZoomInfo Technologies in the 4th quarter valued at about $116,622,000. Deutsche Bank AG boosted its holdings in shares of ZoomInfo Technologies by 21,345.2% during the 4th quarter. Deutsche Bank AG now owns 10,228,951 shares of the company's stock worth $107,506,000 after purchasing an additional 10,181,253 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of ZoomInfo Technologies during the 4th quarter worth approximately $48,336,000. RPD Fund Management LLC acquired a new position in shares of ZoomInfo Technologies during the 4th quarter worth approximately $43,264,000. Finally, LSV Asset Management raised its position in shares of ZoomInfo Technologies by 2,528.2% during the 1st quarter. LSV Asset Management now owns 3,159,047 shares of the company's stock valued at $31,590,000 after buying an additional 3,038,847 shares during the period. Institutional investors own 95.47% of the company's stock.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ ZI traded up $0.44 during midday trading on Tuesday, hitting $10.65. The company's stock had a trading volume of 9,444,066 shares, compared to its average volume of 7,578,001. ZoomInfo Technologies Inc. has a 1-year low of $7.01 and a 1-year high of $13.39. The firm's fifty day moving average price is $10.18 and its 200-day moving average price is $9.92. 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 cap of $3.65 billion, a P/E ratio of 355.12, a P/E/G ratio of 13.05 and a beta of 1.02.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on ZoomInfo Technologies from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Mizuho decreased their price objective on shares of ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Barclays increased their target price 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. Morgan Stanley decreased their target price on shares of ZoomInfo Technologies from $13.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler increased their target price 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. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.63.

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.