Magnetar Financial LLC Boosts Holdings in ZoomInfo Technologies Inc. $ZI

Key Points

• Magnetar Financial LLC significantly increased its stake in ZoomInfo Technologies by 492.6% in the 1st quarter, owning 70,671 shares worth approximately $707,000.
• Wall Street analysts have raised their price targets for ZoomInfo Technologies, with Piper Sandler and Barclays setting new targets at $11.00, indicating a consensus rating of "Hold" and a target price of $11.18.
• Institutional investors own 95.47% of ZoomInfo Technologies' stock, reflecting strong backing from major investment firms.

Magnetar Financial LLC raised its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 492.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,671 shares of the company's stock after purchasing an additional 58,746 shares during the period. Magnetar Financial LLC's holdings in ZoomInfo Technologies were worth $707,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ZI. Deutsche Bank AG increased its stake in ZoomInfo Technologies by 21,345.2% in the fourth quarter. Deutsche Bank AG now owns 10,228,951 shares of the company's stock valued at $107,506,000 after purchasing an additional 10,181,253 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of ZoomInfo Technologies in the 1st quarter valued at about $51,933,000. RPD Fund Management LLC purchased a new stake in shares of ZoomInfo Technologies in the 4th quarter valued at about $43,264,000. LSV Asset Management lifted its holdings in shares of ZoomInfo Technologies by 2,528.2% in the 1st quarter. LSV Asset Management now owns 3,159,047 shares of the company's stock valued at $31,590,000 after purchasing an additional 3,038,847 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of ZoomInfo Technologies by 373.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,799,665 shares of the company's stock valued at $18,914,000 after purchasing an additional 1,419,665 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI traded down $0.26 during midday trading on Friday, reaching $10.12. The stock had a trading volume of 2,945,010 shares, compared to its average volume of 7,578,001. The firm has a fifty day simple moving average of $10.40 and a two-hundred day simple moving average of $9.94. ZoomInfo Technologies Inc. has a 12-month low of $7.01 and a 12-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 stock has a market cap of $3.46 billion, a P/E ratio of 337.45, a P/E/G ratio of 13.05 and a beta of 1.02.

Wall Street Analyst Weigh In

ZI has been the topic of a number of research reports. Piper Sandler raised their target price on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wells Fargo & Company raised their target price 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. Finally, Barclays raised their price objective on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, ZoomInfo Technologies currently has an average rating of "Hold" and a consensus price target of $11.18.

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.