State of New Jersey Common Pension Fund D Makes New Investment in Zeta Global Holdings Corp. (NASDAQ:ZETA)

State of New Jersey Common Pension Fund D purchased a new position in shares of Zeta Global Holdings Corp. (NASDAQ:ZETA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 108,573 shares of the company's stock, valued at approximately $1,916,000.

A number of other hedge funds have also made changes to their positions in the company. George Kaiser Family Foundation boosted its holdings in Zeta Global by 891.8% in the fourth quarter. George Kaiser Family Foundation now owns 237,383 shares of the company's stock valued at $2,094,000 after purchasing an additional 213,448 shares during the period. Vanguard Group Inc. increased its position in Zeta Global by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 16,286,528 shares of the company's stock valued at $143,647,000 after acquiring an additional 370,912 shares during the period. Russell Investments Group Ltd. boosted its holdings in Zeta Global by 99.3% in the 1st quarter. Russell Investments Group Ltd. now owns 554,597 shares of the company's stock valued at $6,062,000 after purchasing an additional 276,294 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Zeta Global in the 1st quarter valued at approximately $4,113,000. Finally, Scalar Gauge Management LLC purchased a new stake in Zeta Global in the 4th quarter valued at approximately $6,411,000. Institutional investors and hedge funds own 75.82% of the company's stock.

Zeta Global Stock Performance

Shares of NASDAQ ZETA traded up $0.54 during midday trading on Friday, hitting $28.94. 6,635,094 shares of the company's stock traded hands, compared to its average volume of 2,357,412. The firm has a fifty day moving average of $23.96 and a 200 day moving average of $17.62. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of -27.30 and a beta of 1.26. Zeta Global Holdings Corp. has a 1 year low of $7.38 and a 1 year high of $29.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.98 and a current ratio of 1.98.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ZETA shares. Oppenheimer upped their target price on Zeta Global from $20.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price target on Zeta Global from $23.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Morgan Stanley cut Zeta Global from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $18.00 to $30.00 in a report on Thursday, August 1st. Craig Hallum lifted their price target on shares of Zeta Global from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Finally, Truist Financial restated a "buy" rating and set a $30.00 price target (up from $23.00) on shares of Zeta Global in a 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's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $29.75.

About Zeta Global

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.