Here’s Why Baron Funds Invested in ZoomInfo Technologies (ZI)

Baron Funds, an asset management company, released its “Baron Asset Fund” investor letter. You can download a copy of the same here. In the second quarter, the fund fell 21.09%. However, the firm believes that the fund is positioned to perform well in the current market concerns of recession and inflation. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like ZoomInfo Technologies Inc. (NASDAQ:ZI). Headquartered in Vancouver, Washington, ZoomInfo Technologies Inc. (NASDAQ:ZI) is a go-market-intelligence platform provider. On August 29, 2022, ZoomInfo Technologies Inc. (NASDAQ:ZI) stock closed at $45.76 per share. One-month return of ZoomInfo Technologies Inc. (NASDAQ:ZI) was 9.03% and its shares lost 29.81% of their value over the last 52 weeks. ZoomInfo Technologies Inc. (NASDAQ:ZI) has a market capitalization of $18.462 billion.

Here is what Baron Funds specifically said about ZoomInfo Technologies Inc. (NASDAQ:ZI):

“ZoomInfo Technologies Inc. (NASDAQ:ZI) operates a cloud-based data intelligence platform that provides corporate sales teams with data to identify sales prospects, shorten sales cycles and increase overall win rates. Its shares detracted from performance following a short seller’s report questioning whether the company was compliant with new and upcoming privacy regulations.

After extensive due diligence, we remain comfortable that ZoomInfo is compliant with all current legislation and has every intention to remain compliant with any new or pending privacy legislation. We do not believe this will pose a meaningful headwind to the company’s ability to achieve its growth and profitability objectives.”

Hand touching brain of AI, Symbolic, Machine learning, artificial intelligence of futuristic technology. AI network of brain on business analysis, innovative and business growth development.

ZoomInfo Technologies Inc. (NASDAQ:ZI) is not on the list of 30 Most Popular Stocks Among Hedge Funds. ZoomInfo Technologies Inc. (NASDAQ:ZI) was held by 37 hedge fund portfolios at the end of the second quarter compared to 51 in the previous quarter.

We discussed ZoomInfo Technologies Inc. (NASDAQ:ZI) in another article and shared Baron Funds’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.