ZoomInfo Technologies (NASDAQ:ZI) Downgraded to “Sell” at Citigroup

Citigroup cut shares of ZoomInfo Technologies (NASDAQ:ZIFree Report) from a neutral rating to a sell rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have $13.00 price target on the stock, down from their prior price target of $20.00.

ZI has been the topic of a number of other research reports. Canaccord Genuity Group decreased their target price on shares of ZoomInfo Technologies from $26.00 to $21.00 and set a buy rating on the stock in a research note on Tuesday, October 31st. Morgan Stanley cut shares of ZoomInfo Technologies from an overweight rating to an equal weight rating and decreased their target price for the stock from $24.00 to $20.00 in a research note on Thursday, February 1st. Truist Financial decreased their target price on shares of ZoomInfo Technologies from $24.00 to $16.00 and set a hold rating on the stock in a research note on Tuesday, October 31st. Stifel Nicolaus reduced their price objective on shares of ZoomInfo Technologies from $27.00 to $20.00 and set a buy rating on the stock in a research note on Tuesday, October 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ZoomInfo Technologies from $26.00 to $22.00 and set an overweight rating on the stock in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $20.84.

Check Out Our Latest Stock Report on ZI

ZoomInfo Technologies Stock Performance

Shares of NASDAQ:ZI opened at $15.31 on Thursday. The company’s 50 day simple moving average is $16.56 and its 200 day simple moving average is $16.78. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 45.03, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49. ZoomInfo Technologies has a 1 year low of $12.36 and a 1 year high of $30.16.

Insider Activity

In other news, CTO Ali Dasdan sold 5,007 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $14.69, for a total transaction of $73,552.83. Following the completion of the sale, the chief technology officer now directly owns 50,953 shares of the company’s stock, valued at $748,499.57. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On ZoomInfo Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ZI. Advisory Services Network LLC grew its position in ZoomInfo Technologies by 222.2% in the 1st quarter. Advisory Services Network LLC now owns 1,450 shares of the company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Fifth Third Bancorp grew its position in ZoomInfo Technologies by 64.2% in the 4th quarter. Fifth Third Bancorp now owns 1,653 shares of the company’s stock worth $31,000 after purchasing an additional 646 shares in the last quarter. Comerica Bank bought a new stake in ZoomInfo Technologies in the 2nd quarter worth about $42,000. UniSuper Management Pty Ltd bought a new stake in ZoomInfo Technologies in the 2nd quarter worth about $46,000. Finally, Advisors Asset Management Inc. grew its position in shares of ZoomInfo Technologies by 84.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,910 shares of the company’s stock valued at $31,000 after acquiring an additional 876 shares during the period. 89.59% of the stock is owned by institutional investors.

ZoomInfo Technologies Company Profile

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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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