ZoomInfo Technologies Inc. (NASDAQ:ZI) Sees Significant Growth in Short Interest

ZoomInfo Technologies Inc. (NASDAQ:ZI) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 35,940,000 shares, an increase of 33.9% from the September 30th total of 26,840,000 shares. Based on an average daily volume of 7,500,000 shares, the short-interest ratio is presently 4.8 days.

Insiders Place Their Bets

In related news, CEO Henry Schuck acquired 1,500,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $8.49 per share, with a total value of $12,735,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 11,788,001 shares of the company’s stock, valued at $100,080,128.49. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On ZoomInfo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Horrell Capital Management Inc. grew its holdings in shares of ZoomInfo Technologies by 35.2% during the third quarter. Horrell Capital Management Inc. now owns 365,000 shares of the company’s stock worth $3,767,000 after buying an additional 95,000 shares in the last quarter. State of Alaska Department of Revenue grew its stake in ZoomInfo Technologies by 7.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,265 shares of the company’s stock valued at $353,000 after acquiring an additional 2,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ZoomInfo Technologies during the 3rd quarter valued at about $37,000. Raleigh Capital Management Inc. acquired a new stake in ZoomInfo Technologies in the 3rd quarter valued at about $31,000. Finally, Creative Planning purchased a new position in ZoomInfo Technologies in the 3rd quarter worth approximately $254,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ZI shares. Royal Bank of Canada dropped their target price on ZoomInfo Technologies from $9.00 to $7.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 6th. DA Davidson downgraded shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $9.50 in a report on Tuesday, August 6th. Needham & Company LLC reduced their target price on shares of ZoomInfo Technologies from $25.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Stifel Nicolaus lowered their price target 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. Finally, Daiwa America lowered ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, ZoomInfo Technologies presently has a consensus rating of “Hold” and an average target price of $13.40.

ZoomInfo Technologies Price Performance

ZoomInfo Technologies stock opened at $10.49 on Monday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 52.45, a P/E/G ratio of 6.42 and a beta of 1.06. The company’s fifty day moving average price is $10.06 and its 200 day moving average price is $11.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97. ZoomInfo Technologies has a 1 year low of $7.65 and a 1 year high of $19.39.

ZoomInfo Technologies (NASDAQ:ZI) last announced its earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.07). ZoomInfo Technologies had a net margin of 1.25% and a return on equity of 10.96%. The company had revenue of $291.50 million during the quarter, compared to analyst estimates of $307.68 million. During the same quarter last year, the business earned $0.16 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that ZoomInfo Technologies will post 0.55 earnings per share for the current fiscal year.

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.