Retirement Systems of Alabama Raises Holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Retirement Systems of Alabama boosted its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 304.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,417,844 shares of the company’s stock after acquiring an additional 1,067,299 shares during the period. Retirement Systems of Alabama’s holdings in ZoomInfo Technologies were worth $14,902,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in ZoomInfo Technologies by 29.1% in the fourth quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock valued at $54,000 after buying an additional 1,160 shares during the last quarter. Fifth Third Bancorp lifted its position in ZoomInfo Technologies by 47.8% during the fourth quarter. Fifth Third Bancorp now owns 3,836 shares of the company’s stock valued at $40,000 after purchasing an additional 1,241 shares during the period. State of Alaska Department of Revenue lifted its position in ZoomInfo Technologies by 7.1% during the third quarter. State of Alaska Department of Revenue now owns 34,265 shares of the company’s stock valued at $353,000 after purchasing an additional 2,275 shares during the period. KBC Group NV grew its position in ZoomInfo Technologies by 39.0% during the 3rd quarter. KBC Group NV now owns 9,393 shares of the company’s stock worth $97,000 after purchasing an additional 2,635 shares during the period. Finally, Raleigh Capital Management Inc. acquired a new stake in ZoomInfo Technologies during the 3rd quarter worth about $31,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ZoomInfo Technologies

In related news, CEO Henry Schuck acquired 492,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the purchase, the chief executive officer now owns 12,280,501 shares of the company’s stock, valued at $125,875,135.25. This represents a 4.18 % increase 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 that occurred on Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the transaction, the chief technology officer now owns 118,659 shares of the company’s stock, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

ZoomInfo Technologies Stock Performance

Shares of ZI stock opened at $10.00 on Friday. ZoomInfo Technologies Inc. has a one year low of $7.65 and a one year high of $18.69. The firm’s 50 day moving average price is $10.45 and its 200-day moving average price is $10.36. The firm has a market cap of $3.43 billion, a P/E ratio of 333.44, a P/E/G ratio of 13.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63.

Wall Street Analysts Forecast Growth

ZI has been the subject of several recent research reports. KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday, December 13th. Piper Sandler reaffirmed an “underweight” rating and set a $10.00 price objective (down from $11.00) on shares of ZoomInfo Technologies in a report on Monday, January 6th. Mizuho boosted their target price on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Wells Fargo & Company restated an “equal weight” rating and issued a $11.00 price objective (down previously from $14.00) on shares of ZoomInfo Technologies in a report on Tuesday, January 7th. Finally, Barclays decreased their target price on shares of ZoomInfo Technologies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.12.

ZoomInfo Technologies Company Profile

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.