Jericho Capital Asset Management L.P. Makes New $116.62 Million Investment in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Jericho Capital Asset Management L.P. acquired a new stake in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,096,283 shares of the company's stock, valued at approximately $116,622,000. ZoomInfo Technologies makes up approximately 1.7% of Jericho Capital Asset Management L.P.'s portfolio, making the stock its 19th biggest position. Jericho Capital Asset Management L.P. owned 3.23% of ZoomInfo Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC raised its stake in shares of ZoomInfo Technologies by 107.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 49,633 shares of the company's stock valued at $522,000 after purchasing an additional 25,691 shares in the last quarter. Northern Trust Corp increased its position in ZoomInfo Technologies by 20.7% in the 4th 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. Tudor Investment Corp ET AL lifted its holdings in ZoomInfo Technologies by 470.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 938,845 shares of the company's stock worth $9,867,000 after purchasing an additional 774,169 shares during the period. Aquatic Capital Management LLC bought a new position in shares of ZoomInfo Technologies in the fourth quarter valued at approximately $854,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of ZoomInfo Technologies in the 4th quarter worth $232,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZI shares. Citigroup upped their price target on ZoomInfo Technologies from $8.50 to $9.00 and gave the company a "sell" rating in a report on Tuesday, February 11th. DA Davidson dropped their price objective on ZoomInfo Technologies from $13.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price target on shares of ZoomInfo Technologies in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on shares of ZoomInfo Technologies from $12.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley dropped their price target on ZoomInfo Technologies from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.00.

ZoomInfo Technologies Price Performance

ZI stock traded up $0.37 during trading on Friday, hitting $9.00. 4,881,530 shares of the stock traded hands, compared to its average volume of 7,368,084. 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 has a market cap of $3.08 billion, a price-to-earnings ratio of 300.10, a P/E/G ratio of 13.05 and a beta of 1.00. ZoomInfo Technologies Inc. has a one year low of $7.01 and a one year high of $16.98. The company has a 50 day simple moving average of $9.64 and a 200 day simple moving average of $10.24.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The business had revenue of $309.10 million during the quarter, compared to analyst estimates of $297.64 million. Equities analysts expect that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

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.