Jericho Capital Asset Management L.P. Cuts Stock Position in ZoomInfo Technologies Inc. $ZI

Key Points

• Jericho Capital Asset Management L.P. reduced its stake in ZoomInfo Technologies Inc. by 32.2%, now holding approximately 7.5 million shares.
• Other hedge funds have increased their positions in ZoomInfo, with UMB Bank n.a. up by 125.3% and Brooklyn Investment Group by 180.5% in the first quarter.
• Analysts have updated their price targets for ZoomInfo Technologies, with Barclays and Piper Sandler setting their targets at $11.00, and the current consensus rating for the stock is "Hold".

Jericho Capital Asset Management L.P. trimmed its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 32.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,526,518 shares of the company's stock after selling 3,569,765 shares during the quarter. ZoomInfo Technologies comprises about 1.4% of Jericho Capital Asset Management L.P.'s investment portfolio, making the stock its 22nd largest holding. Jericho Capital Asset Management L.P. owned approximately 2.20% of ZoomInfo Technologies worth $75,265,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ZI. Deutsche Bank AG increased its holdings in ZoomInfo Technologies by 21,345.2% in the 4th quarter. Deutsche Bank AG now owns 10,228,951 shares of the company's stock valued at $107,506,000 after buying an additional 10,181,253 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of ZoomInfo Technologies during the 1st quarter valued at approximately $51,933,000. AQR Capital Management LLC grew its holdings in ZoomInfo Technologies by 1,632.1% during the 1st quarter. AQR Capital Management LLC now owns 5,407,960 shares of the company's stock worth $53,674,000 after acquiring an additional 5,095,746 shares during the last quarter. RPD Fund Management LLC acquired a new position in ZoomInfo Technologies during the 4th quarter worth about $43,264,000. Finally, LSV Asset Management lifted its holdings in ZoomInfo Technologies by 2,528.2% during the 1st quarter. LSV Asset Management now owns 3,159,047 shares of the company's stock worth $31,590,000 after buying an additional 3,038,847 shares during the period. 95.47% of the stock is owned by institutional investors.

ZoomInfo Technologies Stock Up 4.1%

Shares of ZI traded up $0.42 during midday trading on Tuesday, reaching $10.65. 4,247,618 shares of the stock were exchanged, compared to its average volume of 7,578,001. ZoomInfo Technologies Inc. has a 52 week low of $7.01 and a 52 week 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 company's 50 day moving average is $10.41 and its two-hundred day moving average is $9.94. The company has a market capitalization of $3.65 billion, a P/E ratio of 355.12, a PEG ratio of 13.05 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZI shares. Wells Fargo & Company boosted their price target on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Barclays boosted their price target on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler upped 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. Three equities 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's stock. Based on data from MarketBeat, ZoomInfo Technologies presently has a consensus rating of "Hold" and an average 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.