ZoomInfo Technologies (NASDAQ:GTM) Stock Price Down 7% – Here’s What Happened

ZoomInfo Technologies Inc. (NASDAQ:GTM) dropped 7% during mid-day trading on Monday. The stock traded as low as $3.34 and last traded at $3.2550. Approximately 538,688 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 8,898,333 shares. The stock had previously closed at $3.50.

Analysts Set New Price Targets

Several equities analysts have issued reports on GTM shares. Royal Bank Of Canada raised their price objective on ZoomInfo Technologies from $3.00 to $3.50 and gave the stock an “underperform” rating in a report on Thursday, November 5th. DA Davidson reduced their target price on ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. Citigroup upped their target price on ZoomInfo Technologies from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Friday, August 7th. Piper Sandler upgraded ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $3.00 to $4.00 in a research note on Thursday, November 5th. Finally, Stifel Nicolaus lifted their price target on ZoomInfo Technologies from $3.50 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.32.

ZoomInfo Technologies Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.43. The stock’s 50 day moving average is $3.96 and its 200 day moving average is $4.62. The stock has a market capitalization of $972.31 million, a price-to-earnings ratio of 4.18, a PEG ratio of 0.58 and a beta of 0.79.

ZoomInfo Technologies (NASDAQ:GTM) last posted its earnings results on Wednesday, November 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. The firm had revenue of $308.80 million for the quarter. ZoomInfo Technologies had a positive return on equity of 22.80% and a negative net margin of 46.26%. ZoomInfo Technologies’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. On average, analysts predict that ZoomInfo Technologies Inc. will post 0.83 earnings per share for the current year.

Insider Activity

In related news, CRO James Roth sold 20,773 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $3.70, for a total transaction of $76,860.10. Following the transaction, the executive owned 270,507 shares of the company’s stock, valued at approximately $1,000,875.90. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,135 shares of company stock worth $109,908 over the last quarter. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On ZoomInfo Technologies

Several large investors have recently added to or reduced their stakes in the business. Amundi increased its stake in shares of ZoomInfo Technologies by 724.9% during the 1st quarter. Amundi now owns 667,967 shares of the company’s stock valued at $3,994,000 after acquiring an additional 586,991 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of ZoomInfo Technologies by 120.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,301,370 shares of the company’s stock worth $7,782,000 after acquiring an additional 711,508 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of ZoomInfo Technologies by 24.7% in the first quarter. Dimensional Fund Advisors LP now owns 15,100,675 shares of the company’s stock worth $90,302,000 after acquiring an additional 2,992,276 shares during the last quarter. AXQ Capital LP purchased a new stake in ZoomInfo Technologies in the second quarter valued at approximately $1,572,000. Finally, Quantinno Capital Management LP grew its holdings in ZoomInfo Technologies by 127.7% in the first quarter. Quantinno Capital Management LP now owns 4,144,952 shares of the company’s stock valued at $24,787,000 after purchasing an additional 2,324,381 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

About ZoomInfo Technologies

ZoomInfo Technologies provides a business-to-business go-to-market intelligence and software platform. Its services help companies identify and research potential customers, manage sales and marketing activities, and support recruiting and other business workflows. The platform combines business contact and company information with tools for sales engagement, marketing, operations, and buyer-intent insights. Customers use these products to find prospects, prioritize outreach, and coordinate interactions with businesses.