Park West Asset Management LLC Invests $26.60 Million in ZoomInfo Technologies Inc. $ZI

Key Points

• Park West Asset Management LLC acquired 2,659,900 shares of ZoomInfo Technologies Inc. valued at approximately $26.6 million, making it the firm's 20th largest holding.
• ZoomInfo Technologies stock has seen recent attention from analysts, with several firms raising their price targets, indicating an average target price of $11.18.
• The stock is currently down 2.5% with a market cap of $3.46 billion, facing a price-to-earnings ratio of 337.45 and a beta of 1.02.

Park West Asset Management LLC acquired a new stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 2,659,900 shares of the company's stock, valued at approximately $26,599,000. ZoomInfo Technologies accounts for approximately 2.1% of Park West Asset Management LLC's investment portfolio, making the stock its 20th biggest holding. Park West Asset Management LLC owned 0.78% of ZoomInfo Technologies as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ZI. Deutsche Bank AG grew its holdings in ZoomInfo Technologies by 21,345.2% during 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 in the last quarter. AQR Capital Management LLC boosted its position in shares of ZoomInfo Technologies by 1,632.1% in the first quarter. AQR Capital Management LLC now owns 5,407,960 shares of the company's stock valued at $53,674,000 after acquiring an additional 5,095,746 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in ZoomInfo Technologies during the first quarter valued at approximately $51,933,000. Primecap Management Co. CA increased its holdings in ZoomInfo Technologies by 7.3% during the 1st quarter. Primecap Management Co. CA now owns 4,689,906 shares of the company's stock worth $46,899,000 after acquiring an additional 318,005 shares during the period. Finally, RPD Fund Management LLC purchased a new stake in ZoomInfo Technologies in the 4th quarter worth approximately $43,264,000. Institutional investors own 95.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZI shares. Piper Sandler upped their price target on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Wells Fargo & Company boosted their target price 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. Finally, Barclays raised their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ZoomInfo Technologies currently has an average rating of "Hold" and a consensus price target of $11.18.

ZoomInfo Technologies Price Performance

Shares of ZoomInfo Technologies stock traded up $0.42 during trading on Tuesday, hitting $10.65. 4,247,618 shares of the stock traded hands, compared to its average volume of 7,578,001. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 355.12, a PEG ratio of 13.05 and a beta of 1.02. 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 $7.01 and a 52 week high of $13.39. The firm's fifty day moving average is $10.42 and its 200-day moving average is $9.95.

ZoomInfo Technologies 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.