Traders Purchase High Volume of ZoomInfo Technologies Put Options (NASDAQ:ZI)

ZoomInfo Technologies Inc. (NASDAQ:ZI) was the target of some unusual options trading on Wednesday. Stock traders acquired 21,315 put options on the stock. This represents an increase of approximately 242% compared to the average volume of 6,238 put options.

Institutional Investors Weigh In On ZoomInfo Technologies

Several hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in ZoomInfo Technologies by 180.0% during the third quarter. FMR LLC now owns 13,859,918 shares of the company’s stock worth $227,303,000 after acquiring an additional 8,909,420 shares during the period. Coatue Management LLC acquired a new position in shares of ZoomInfo Technologies during the 4th quarter worth approximately $120,619,000. Franklin Resources Inc. increased its holdings in shares of ZoomInfo Technologies by 52,230.4% during the fourth quarter. Franklin Resources Inc. now owns 6,055,152 shares of the company’s stock worth $111,960,000 after purchasing an additional 6,043,581 shares during the period. Cadian Capital Management LP increased its holdings in ZoomInfo Technologies by 110.7% in the 3rd quarter. Cadian Capital Management LP now owns 9,765,615 shares of the company’s stock valued at $160,156,000 after buying an additional 5,131,000 shares during the period. Finally, Norges Bank acquired a new position in ZoomInfo Technologies during the fourth quarter worth about $55,448,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

ZoomInfo Technologies Trading Down 24.2 %

Shares of NASDAQ:ZI opened at $12.14 on Thursday. ZoomInfo Technologies has a 52-week low of $11.67 and a 52-week high of $30.16. The company has a market capitalization of $4.61 billion, a P/E ratio of 44.96, a price-to-earnings-growth ratio of 4.28 and a beta of 1.13. The company has a 50-day simple moving average of $16.01 and a 200 day simple moving average of $15.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.35 and a current ratio of 1.35.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. The business had revenue of $316.40 million during the quarter, compared to the consensus estimate of $310.62 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that ZoomInfo Technologies will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America upgraded shares of ZoomInfo Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $25.00 in a report on Monday, January 29th. UBS Group reduced their target price on shares of ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays dropped their price target on ZoomInfo Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed an “underperform” rating and set a $14.00 price objective on shares of ZoomInfo Technologies in a research report on Tuesday, February 13th. Finally, Morgan Stanley dropped their target price on ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.10.

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.