Massachusetts Financial Services Co. MA Sells 2,362,326 Shares of Zeta Global Holdings Corp. (NASDAQ:ZETA)

Massachusetts Financial Services Co. MA decreased its position in Zeta Global Holdings Corp. (NASDAQ:ZETA - Free Report) by 54.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,968,670 shares of the company's stock after selling 2,362,326 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.90% of Zeta Global worth $34,747,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ZETA. Praesidium Investment Management Company LLC grew its position in shares of Zeta Global by 1,549.5% during the 4th quarter. Praesidium Investment Management Company LLC now owns 6,181,328 shares of the company's stock worth $54,519,000 after buying an additional 5,806,578 shares during the period. Capital World Investors acquired a new stake in shares of Zeta Global in the 4th quarter valued at about $23,560,000. Ophir Asset Management Pty Ltd bought a new stake in Zeta Global in the 4th quarter valued at about $19,682,000. William Blair Investment Management LLC acquired a new position in Zeta Global during the 2nd quarter worth approximately $28,698,000. Finally, Granahan Investment Management LLC boosted its holdings in Zeta Global by 15.3% in the fourth quarter. Granahan Investment Management LLC now owns 8,112,729 shares of the company's stock worth $71,554,000 after acquiring an additional 1,076,208 shares in the last quarter. 75.82% of the stock is owned by institutional investors.

Zeta Global Stock Up 1.9 %

ZETA stock traded up $0.54 on Friday, reaching $28.94. 6,485,042 shares of the company traded hands, compared to its average volume of 2,333,482. The company has a market cap of $6.33 billion, a P/E ratio of -27.30 and a beta of 1.26. The firm has a fifty day simple moving average of $23.73 and a 200-day simple moving average of $17.44. Zeta Global Holdings Corp. has a one year low of $7.38 and a one year high of $29.28. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.98 and a quick ratio of 1.98.

Zeta Global (NASDAQ:ZETA - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.26). The firm had revenue of $227.80 million during the quarter, compared to the consensus estimate of $212.44 million. Zeta Global had a negative return on equity of 79.03% and a negative net margin of 17.76%. The company's quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.32) EPS. Research analysts anticipate that Zeta Global Holdings Corp. will post -0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZETA. Canaccord Genuity Group upped their target price on Zeta Global from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Royal Bank of Canada raised their price target on shares of Zeta Global from $23.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Bank of America boosted their price objective on Zeta Global from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, June 24th. DA Davidson restated a "buy" rating and issued a $30.00 target price on shares of Zeta Global in a report on Tuesday, September 10th. Finally, Oppenheimer increased their target price on shares of Zeta Global from $20.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $29.75.

Zeta Global Company Profile

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. The company's Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry's opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent.