Wellington Management Group LLP Trims Stake in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Wellington Management Group LLP reduced its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 49.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,730,961 shares of the company’s stock after selling 1,681,949 shares during the period. Wellington Management Group LLP’s holdings in ZoomInfo Technologies were worth $17,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its position in ZoomInfo Technologies by 27.7% during the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock valued at $341,111,000 after acquiring an additional 7,177,687 shares in the last quarter. Pacer Advisors Inc. grew its holdings in ZoomInfo Technologies by 38.7% in the third quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock valued at $95,716,000 after purchasing an additional 2,585,631 shares during the period. State Street Corp grew its holdings in ZoomInfo Technologies by 2.0% in the third quarter. State Street Corp now owns 8,626,463 shares of the company’s stock valued at $89,025,000 after purchasing an additional 165,440 shares during the period. Marshall Wace LLP acquired a new stake in ZoomInfo Technologies in the second quarter valued at approximately $73,435,000. Finally, Maverick Capital Ltd. acquired a new stake in ZoomInfo Technologies in the third quarter valued at approximately $44,248,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

ZoomInfo Technologies Stock Performance

NASDAQ ZI opened at $10.40 on Friday. The stock’s fifty day moving average is $10.75 and its two-hundred day moving average is $10.87. The firm has a market capitalization of $3.57 billion, a P/E ratio of 346.67, a price-to-earnings-growth ratio of 14.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $19.39.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup raised their price objective on ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a report on Thursday, November 14th. Mizuho raised their price objective on ZoomInfo Technologies from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. KeyCorp lowered ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday. Piper Sandler lifted their price target on ZoomInfo Technologies from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Scotiabank assumed coverage on ZoomInfo Technologies in a research note on Monday, November 18th. They issued a “sector perform” rating and a $10.30 price target on the stock. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.77.

Insider Buying and Selling at ZoomInfo Technologies

In related news, Director David Randall Winn sold 290,541 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total value of $3,213,383.46. Following the sale, the director now owns 1,266,807 shares in the company, valued at approximately $14,010,885.42. The trade was a 18.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Ali Dasdan sold 4,898 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total value of $53,926.98. Following the completion of the sale, the chief technology officer now owns 118,659 shares in the company, valued at $1,306,435.59. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

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.