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Baron Funds: “ZoomInfo (ZI) can Become a Much Larger Company Over Time”

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Baron Funds, an asset management firm, published its “Baron Global Advantage Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Global Advantage Fund (the “Fund”) declined 22.8% (Institutional Shares), during the first quarter, compared to the 5.4% loss for the MSCI ACWI Index (the “Index”), and the 9.7% loss for the MSCI ACWI Growth Index, the Fund’s benchmarks. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Global Advantage Fund mentioned ZoomInfo Technologies Inc. (NASDAQ:ZI) and explained its insights for the company. Founded in 2019, ZoomInfo Technologies Inc. (NASDAQ:ZI) is a Vancouver, Washington-based software as a service company with a $19.8 billion market capitalization. ZoomInfo Technologies Inc. (NASDAQ:ZI) delivered a -23.36% return since the beginning of the year, while its 12-month returns are up by 1.61%. The stock closed at $49.20 per share on May 02, 2022.

Here is what Baron Global Advantage Fund has to say about ZoomInfo Technologies Inc. (NASDAQ:ZI) in its Q1 2022 investor letter:

"ZoomInfo Technologies Inc. operates a cloud-based B2B platform that provides sales, marketing, and HR teams with comprehensive business intelligence, enabling shorter sales cycles and higher win rates. While the stock was down 7% over the course of the first quarter, well-timed purchases turned it into a contributor that added 18bps to absolute returns. The company continues to execute well with another positive quarterly earnings surprise and strong forward bookings, with 2021 revenues growing 57% year-over-year, and with 46% free-cash-flow margins. New products are starting to build momentum, and we believe ZoomInfo can become a much larger company over time as it penetrates its $70 billion total addressable market."

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Our calculations show that ZoomInfo Technologies Inc. (NASDAQ:ZI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. ZoomInfo Technologies Inc. (NASDAQ:ZI) was in 55 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 57 funds in the previous quarter. ZoomInfo Technologies Inc. (NASDAQ:ZI) delivered a -9.39% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on ZoomInfo Technologies Inc. (NASDAQ:ZI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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