Zeta Global (NYSE:ZETA) Sees Strong Trading Volume Following Insider Buying Activity

Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report) saw strong trading volume on Tuesday after an insider bought additional shares in the company. 2,527,929 shares changed hands during trading, a decline of 20% from the previous session's volume of 3,173,435 shares.The stock last traded at $20.54 and had previously closed at $19.58.

Specifically, CEO David Steinberg purchased 53,676 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $19.24 per share, with a total value of $1,032,726.24. Following the completion of the acquisition, the chief executive officer now owns 65,310 shares of the company's stock, valued at approximately $1,256,564.40. This trade represents a 461.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven H. Gerber acquired 13,250 shares of Zeta Global stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $18.55 per share, with a total value of $245,787.50. Following the acquisition, the chief operating officer now directly owns 2,940,811 shares of the company's stock, valued at approximately $54,552,044.05. This trade represents a 0.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, CFO Christopher E. Greiner purchased 7,975 shares of the company's stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $18.80 per share, for a total transaction of $149,930.00. Following the transaction, the chief financial officer now owns 2,330,010 shares of the company's stock, valued at $43,804,188. This represents a 0.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Analyst Ratings Changes

ZETA has been the topic of a number of research analyst reports. Truist Financial reiterated a "buy" rating and set a $42.00 price objective (up previously from $35.00) on shares of Zeta Global in a research note on Tuesday, November 12th. Royal Bank of Canada increased their price target on Zeta Global from $33.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Craig Hallum boosted their price objective on Zeta Global from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Needham & Company LLC raised their target price on Zeta Global from $36.00 to $43.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, DA Davidson lifted their target price on Zeta Global from $39.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.08.

Zeta Global Stock Performance

The firm's 50-day simple moving average is $28.38 and its two-hundred day simple moving average is $22.73. The stock has a market capitalization of $4.85 billion, a PE ratio of -31.49 and a beta of 1.29. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.41.

Zeta Global (NYSE:ZETA - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.26). Zeta Global had a negative net margin of 13.35% and a negative return on equity of 45.22%. The business had revenue of $268.30 million for the quarter, compared to analyst estimates of $252.68 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. The firm's quarterly revenue was up 42.0% on a year-over-year basis. On average, equities research analysts expect that Zeta Global Holdings Corp. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Zeta Global

Several institutional investors have recently made changes to their positions in the stock. Invst LLC acquired a new position in Zeta Global in the 3rd quarter worth about $959,000. Geode Capital Management LLC raised its position in Zeta Global by 18.8% during the third quarter. Geode Capital Management LLC now owns 4,266,679 shares of the company's stock valued at $127,302,000 after acquiring an additional 674,192 shares in the last quarter. Barclays PLC grew its position in Zeta Global by 36.4% in the third quarter. Barclays PLC now owns 420,518 shares of the company's stock worth $12,544,000 after acquiring an additional 112,238 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Zeta Global during the 3rd quarter worth $734,000. Finally, State Street Corp raised its holdings in shares of Zeta Global by 12.2% during the 3rd quarter. State Street Corp now owns 4,187,052 shares of the company's stock valued at $124,900,000 after purchasing an additional 455,944 shares in the last quarter. 75.82% of the stock is currently owned by institutional investors and hedge funds.

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.