Envestnet Asset Management Inc. Sells 34,626 Shares of Zeta Global Holdings Corp. (NYSE:ZETA)

Envestnet Asset Management Inc. lessened its position in Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) by 63.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,367 shares of the company's stock after selling 34,626 shares during the period. Envestnet Asset Management Inc.'s holdings in Zeta Global were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Zeta Global during the fourth quarter valued at approximately $43,236,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Zeta Global by 119.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,129,255 shares of the company's stock valued at $74,285,000 after buying an additional 2,244,953 shares during the period. Battery Management Corp. bought a new position in shares of Zeta Global during the 4th quarter valued at $15,954,000. Franklin Resources Inc. boosted its position in Zeta Global by 586.8% in the fourth quarter. Franklin Resources Inc. now owns 880,966 shares of the company's stock worth $15,849,000 after purchasing an additional 752,697 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Zeta Global in the fourth quarter worth about $10,652,000. Institutional investors own 87.75% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ZETA shares. Truist Financial dropped their target price on Zeta Global from $42.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their target price on shares of Zeta Global from $27.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. DA Davidson reduced their price objective on Zeta Global from $42.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, April 14th. B. Riley reduced their price objective on Zeta Global from $44.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reduced their price objective on Zeta Global from $25.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Zeta Global presently has an average rating of "Moderate Buy" and a consensus target price of $30.36.

Zeta Global Price Performance

Shares of Zeta Global stock traded up $0.04 on Friday, hitting $13.35. 2,886,063 shares of the company traded hands, compared to its average volume of 5,328,441. The stock has a market capitalization of $3.17 billion, a P/E ratio of -19.07, a price-to-earnings-growth ratio of 1.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.32 and a current ratio of 3.32. Zeta Global Holdings Corp. has a 52 week low of $10.69 and a 52 week high of $38.20. The business has a 50-day simple moving average of $13.39 and a 200 day simple moving average of $18.60.

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.