ZoomInfo Technologies Inc. (NASDAQ:ZI) Stake Boosted by Hsbc Holdings PLC

Posted by on Feb 26th, 2023

Hsbc Holdings PLC grew its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI – Get Rating) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,055 shares of the company’s stock after purchasing an additional 6,456 shares during the quarter. Hsbc Holdings PLC’s holdings in ZoomInfo Technologies were worth $3,603,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in shares of ZoomInfo Technologies during the third quarter valued at approximately $26,000. Dupont Capital Management Corp acquired a new stake in ZoomInfo Technologies in the third quarter worth approximately $38,000. Private Trust Co. NA acquired a new stake in ZoomInfo Technologies in the second quarter worth approximately $33,000. CWM LLC lifted its position in ZoomInfo Technologies by 261.5% in the third quarter. CWM LLC now owns 1,193 shares of the company’s stock worth $50,000 after purchasing an additional 863 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in ZoomInfo Technologies in the second quarter worth approximately $47,000. 84.96% of the stock is owned by institutional investors.

ZoomInfo Technologies Trading Down 3.2 %

NASDAQ ZI opened at $25.19 on Friday. ZoomInfo Technologies Inc. has a 1-year low of $23.29 and a 1-year high of $61.44. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $10.17 billion, a PE ratio of 157.45, a price-to-earnings-growth ratio of 2.50 and a beta of 0.91. The firm’s fifty day simple moving average is $27.38 and its 200-day simple moving average is $35.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group cut their price objective on ZoomInfo Technologies from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, December 7th. Truist Financial downgraded ZoomInfo Technologies from a “buy” rating to a “hold” rating and cut their price objective for the company from $65.00 to $28.00 in a research report on Tuesday, January 10th. Wells Fargo & Company cut their price objective on ZoomInfo Technologies from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, February 7th. Morgan Stanley reduced their target price on ZoomInfo Technologies from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, February 7th. Finally, Canaccord Genuity Group reduced their target price on ZoomInfo Technologies from $43.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, February 7th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.56.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CEO Henry Schuck sold 1,000,000 shares of the stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $28.28, for a total transaction of $28,280,000.00. Following the transaction, the chief executive officer now directly owns 12,288,001 shares of the company’s stock, valued at $347,504,668.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,000,000 shares of company stock valued at $81,980,000 over the last three months. 9.70% of the stock is currently owned by insiders.

About ZoomInfo Technologies

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ZoomInfo Technologies Inc, through 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.

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Institutional Ownership by Quarter for ZoomInfo Technologies (NASDAQ:ZI)

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