Sachem Head Capital Management LP Reduces Stake in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Sachem Head Capital Management LP lessened its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 48.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,335,000 shares of the company's stock after selling 7,695,000 shares during the period. ZoomInfo Technologies comprises 4.8% of Sachem Head Capital Management LP's investment portfolio, making the stock its 10th largest holding. Sachem Head Capital Management LP owned about 2.43% of ZoomInfo Technologies worth $87,601,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Shellback Capital LP bought a new stake in ZoomInfo Technologies during the fourth quarter worth approximately $1,051,000. RPD Fund Management LLC acquired a new position in shares of ZoomInfo Technologies in the fourth quarter valued at $43,264,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in ZoomInfo Technologies in the fourth quarter valued at $261,000. Point72 Asset Management L.P. grew its position in ZoomInfo Technologies by 373.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,799,665 shares of the company's stock valued at $18,914,000 after acquiring an additional 1,419,665 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of ZoomInfo Technologies during the fourth quarter worth $378,000. Institutional investors and hedge funds own 95.47% of the company's stock.

ZoomInfo Technologies Price Performance

Shares of ZI opened at $10.06 on Friday. ZoomInfo Technologies Inc. has a 12-month low of $7.01 and a 12-month high of $13.65. The business has a 50-day simple moving average of $9.25 and a two-hundred day simple moving average of $10.17. 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 $3.44 billion, a PE ratio of 335.45, a PEG ratio of 13.05 and a beta of 1.02.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZI shares. Mizuho lowered their price objective on ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Scotiabank lifted their price objective on ZoomInfo Technologies from $10.30 to $11.00 and gave the company a "sector perform" rating in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price objective on ZoomInfo Technologies from $14.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Morgan Stanley cut their target price on ZoomInfo Technologies from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays boosted their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.63.

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.

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