Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI – Get Rating) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,681 shares of the company’s stock after purchasing an additional 11,203 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in ZoomInfo Technologies were worth $3,236,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ZoomInfo Technologies by 8.0% during the first quarter. Vanguard Group Inc. now owns 23,082,415 shares of the company’s stock worth $1,378,944,000 after purchasing an additional 1,717,608 shares during the last quarter. State Street Corp boosted its holdings in ZoomInfo Technologies by 71.7% in the second quarter. State Street Corp now owns 5,874,049 shares of the company’s stock valued at $195,253,000 after acquiring an additional 2,453,367 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in ZoomInfo Technologies by 6.6% in the second quarter. Artisan Partners Limited Partnership now owns 4,962,769 shares of the company’s stock valued at $164,962,000 after acquiring an additional 308,500 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in ZoomInfo Technologies by 31.3% in the second quarter. UBS Asset Management Americas Inc. now owns 4,405,274 shares of the company’s stock valued at $146,431,000 after acquiring an additional 1,050,243 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in ZoomInfo Technologies by 15.9% in the second quarter. JPMorgan Chase & Co. now owns 2,791,779 shares of the company’s stock valued at $92,800,000 after acquiring an additional 383,746 shares during the last quarter. 84.96% of the stock is currently owned by institutional investors.
Insider Activity at ZoomInfo Technologies
In related news, CEO Henry Schuck sold 1,000,000 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $25.54, for a total value of $25,540,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,288,001 shares of the company’s stock, valued at approximately $339,375,545.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.70% of the stock is currently owned by insiders.
ZoomInfo Technologies Trading Down 2.4 %
ZoomInfo Technologies (NASDAQ:ZI – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $287.60 million during the quarter, compared to analysts’ expectations of $277.90 million. ZoomInfo Technologies had a net margin of 18.15% and a return on equity of 7.92%. On average, analysts predict that ZoomInfo Technologies Inc. will post 0.45 EPS for the current fiscal year.
Analysts Set New Price Targets
ZI has been the topic of several analyst reports. Barclays reduced their target price on ZoomInfo Technologies from $46.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, January 10th. Bank of America cut ZoomInfo Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $34.00 in a report on Wednesday, January 4th. Canaccord Genuity Group cut their price target on ZoomInfo Technologies from $56.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. Credit Suisse Group cut their price target on ZoomInfo Technologies from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, November 2nd. Finally, Royal Bank of Canada cut their price target on ZoomInfo Technologies from $50.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, November 23rd. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.11.
About ZoomInfo Technologies
ZoomInfo Technologies Inc, through 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.
- Get a free copy of the StockNews.com research report on ZoomInfo Technologies (ZI)
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