Retirement Systems of Alabama Buys 1,067,299 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Retirement Systems of Alabama grew its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 304.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,417,844 shares of the company’s stock after purchasing an additional 1,067,299 shares during the period. Retirement Systems of Alabama owned about 0.41% of ZoomInfo Technologies worth $14,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new position in shares of ZoomInfo Technologies during the third quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ZoomInfo Technologies in the 3rd quarter valued at approximately $37,000. 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 buying an additional 1,241 shares during the period. GAMMA Investing LLC boosted its stake in ZoomInfo Technologies by 114.9% during the third quarter. GAMMA Investing LLC now owns 3,992 shares of the company’s stock worth $41,000 after acquiring an additional 2,134 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of ZoomInfo Technologies by 343.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,115 shares of the company’s stock worth $64,000 after purchasing an additional 4,735 shares in the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on ZI shares. Scotiabank initiated coverage on shares of ZoomInfo Technologies in a research report on Monday, November 18th. They set a “sector perform” rating and a $10.30 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research report on Wednesday, November 13th. Mizuho lifted their price target 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 reaffirmed an “equal weight” rating and set a $11.00 price objective (down from $14.00) on shares of ZoomInfo Technologies in a research report on Tuesday, January 7th. Finally, Piper Sandler reiterated an “underweight” rating and issued a $10.00 price target (down previously from $11.00) on shares of ZoomInfo Technologies in a research note on Monday, January 6th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, ZoomInfo Technologies has an average rating of “Hold” and an average target price of $12.12.

ZoomInfo Technologies Stock Performance

NASDAQ:ZI opened at $10.00 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s fifty day moving average is $10.45 and its 200 day moving average is $10.36. The firm has a market capitalization of $3.43 billion, a PE ratio of 333.44, a PEG ratio of 13.44 and a beta of 1.01. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $18.69.

Insider Activity

In related news, CEO Henry Schuck purchased 492,500 shares of ZoomInfo Technologies stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $10.25 per share, with a total value of $5,048,125.00. Following the purchase, the chief executive officer now directly owns 12,280,501 shares of the company’s stock, valued at approximately $125,875,135.25. This represents a 4.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Ali Dasdan sold 4,898 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the completion of the transaction, the chief technology officer now owns 118,659 shares in the company, valued at $1,306,435.59. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

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.