Winn David Randall, a director at ZoomInfo Technologies Inc. (NASDAQ:ZI), has recently sold a significant number of shares in the company. According to a recent SEC filing, Randall sold a total of 500,000 shares over two consecutive days, resulting in proceeds of approximately $5.52 million. The transactions occurred on December 3 and 4, with shares sold at prices ranging from $11.00 to $11.41 and $11.00 to $11.075, respectively. The sales were executed near the stock's current trading level of $10.97, with ZoomInfo currently trading at a notably high P/E ratio of 463x. According to InvestingPro analysis, the company shows impressive gross profit margins of 88.3%.
Following these transactions, Randall retains ownership of 1,057,348 shares in ZoomInfo. The sales were conducted as part of routine transactions and were executed at market prices. With a market capitalization of $3.8 billion and an overall "GOOD" financial health score from InvestingPro, investors can access detailed insider trading patterns and 10+ additional ProTips through the comprehensive Pro Research Report, available for over 1,400 US stocks.
In other recent news, ZoomInfo Technologies reported strong financial results for the third quarter, surpassing prior forecasts with a GAAP revenue of $304 million and an adjusted operating income of $112 million. Despite a sequential revenue decline, the company demonstrated effective operating controls, contributing to a robust operating margin of 37%, an increase from 28% in the previous quarter. Analysts from Citi, Piper Sandler, and DA Davidson have updated their outlooks on ZoomInfo, adjusting their price targets with a range from $8.50 to $13.00, while maintaining a neutral or sell rating.
The company's future outlook remains cautious due to potential challenges with customer renewals and headwinds in the small and medium-sized business segments. ZoomInfo's enterprise customer base saw significant growth, with the $100,000 customer cohort increasing to 1,809 clients. For the fourth quarter, ZoomInfo forecasts GAAP revenue between $296 million and $299 million, with full-year 2024 GAAP revenue anticipated to be between $1.201 billion and $1.204 billion. These are recent developments from ZoomInfo Technologies, reflecting a company navigating its way through a challenging market environment.
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