RPD Fund Doubles Down on ZoomInfo, Buys Another $16 Million in Stock

What happened

According to a Securities and Exchange Commission (SEC) filing dated Feb. 17, 2026, RPD Fund Management LLC increased its holdings in **ZoomInfo Technologies **(GTM +4.65%) by 1,564,102 shares during the fourth quarter of 2025. The estimated transaction value, based on the quarter’s mean unadjusted closing price, was $16.10 million. The fund’s GTM position ended the quarter at 9,628,318 shares, valued at $97.92 million. The net change in position value for the quarter was $9.94 million, reflecting both trading and stock price movements.

What else to know

RPD Fund Management increased its stake in GTM, which now makes up 42.45% of the fund’s 13F reportable assets.

• Top holdings after the filing:
  • Nice: $100.15 million (43.5% of AUM)
  • Appian: $98.06 million (42.5% of AUM)
  • ZoomInfo Technologies: $97.92 million (42.5% of AUM)
  • Domo: $30.55 million (13.3% of AUM)
  • Abercrombie & Fitch: $1.11 million (0.35%)

As of March 19, 2026, shares of GTM were priced at $5.94, down 43.3% over the past year and underperforming the S&P 500 by 61 percentage points.

Company overview

Company snapshot

ZoomInfo:

• Offers a suite of cloud-based go-to-market intelligence and engagement products, including ZoomInfo Copilot, Sales, Marketing, Operations, Talent, and Lite, designed to support sales, marketing, operations, and recruiting professionals.
• Delivers a proprietary platform providing organizational and professional data, predictive analytics, and workflow automation tools.
• Serves a diversified client base spanning enterprises, mid-market, and small businesses across industries such as software, business services, manufacturing, telecommunications, finance, media, transportation, education, hospitality, and real estate.

ZoomInfo Technologies operates at scale as a leading provider of go-to-market intelligence solutions, leveraging a robust data platform to drive customer acquisition and engagement for businesses worldwide. The company’s strategy centers on delivering actionable insights and automation tools that enhance sales and marketing effectiveness. Its competitive advantage lies in comprehensive data coverage, predictive analytics, and workflow integration, enabling it to support a broad spectrum of B2B clients.

What this transaction means for investors

RPD Fund Management likes to look at contrarian, deep-value investments, and ZoomInfo certainly fits that billing after the stock has declined by 92% since 2021. Over the last year alone, the stock has dropped 43%. The primary culprit for this precipitous share price drop is the company’s rapidly decelerating growth. After going public in 2020, when its sales growth rate was above 80%, ZoomInfo’s sales actually declined slightly in 2025 and rose only 3% in the company’s latest quarter.

Battling a challenging macroeconomic environment and the potential for AI’s increasing capabilities to disrupt its operations, GTM stock has been a rough ride for investors. That said, following this decline, ZoomInfo is undeniably a deep-value stock worth watching – especially for those interested in this type of stock, like RPD. First, ZoomInfo trades at a minuscule 5 times free cash flow (FCF) and 6 times forward earnings. The market is virtually pricing the stock for death, but the company’s 32% FCF margins imply otherwise.

Second, while revenue growth has certainly slowed, management noted that its customer count among large customers (with over $100,000 in annual contract value) grew by 53% in Q4 compared to last year’s quarter. This was the seventh-straight quarter of positive growth for the cohort. Meanwhile, the company continued to shift from seat-based to consumption-based pricing, making its model more durable through longer-term contracts. While ZoomInfo isn’t my cup of tea for an investment, I can certainly see the appeal for RPD and other contrarian investors to buy the stock, especially given the market’s negative sentiment toward the company.