Raleigh Capital Management Inc. Takes $31,000 Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Raleigh Capital Management Inc. bought a new position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,000 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning acquired a new position in ZoomInfo Technologies during the third quarter worth approximately $254,000. Wedmont Private Capital bought a new position in shares of ZoomInfo Technologies during the 3rd quarter worth approximately $110,000. GAMMA Investing LLC increased its holdings in shares of ZoomInfo Technologies by 114.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock worth $41,000 after acquiring an additional 2,134 shares during the last quarter. Algert Global LLC raised its stake in ZoomInfo Technologies by 252.0% in the 2nd quarter. Algert Global LLC now owns 85,864 shares of the company’s stock valued at $1,096,000 after acquiring an additional 61,474 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in ZoomInfo Technologies during the 2nd quarter valued at $1,057,000. 95.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZI has been the topic of several research reports. Stifel Nicolaus decreased their price objective on shares of ZoomInfo Technologies from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Barclays lowered their price target on shares of ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Truist Financial cut their price objective on shares of ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their target price on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Piper Sandler reduced their price target on ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, ZoomInfo Technologies has a consensus rating of “Hold” and a consensus target price of $13.40.

ZoomInfo Technologies Stock Down 1.3 %

NASDAQ ZI opened at $10.35 on Thursday. The business has a fifty day moving average price of $9.98 and a two-hundred day moving average price of $11.84. The stock has a market capitalization of $3.87 billion, a PE ratio of 51.75, a PEG ratio of 6.49 and a beta of 1.06. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $19.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.97.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.07). ZoomInfo Technologies had a return on equity of 10.96% and a net margin of 1.25%. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $307.68 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. ZoomInfo Technologies’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities analysts expect that ZoomInfo Technologies Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Henry Schuck bought 1,500,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $8.49 per share, with a total value of $12,735,000.00. Following the completion of the purchase, the chief executive officer now owns 11,788,001 shares in the company, valued at $100,080,128.49. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 8.10% of the stock is currently owned by corporate insiders.

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.