Bank of America Corp DE Has $61.35 Million Holdings in Zeta Global Holdings Corp. $ZETA

Key Points

• Bank of America increased its Zeta Global stake by 47.7% in the first quarter, adding 1.24 million shares to own 3.85 million shares valued at approximately $61.35 million. Institutional investors and hedge funds collectively own 87.75% of the company.
• Zeta Global’s latest quarter showed 43.6% year-over-year revenue growth to $442.77 million, exceeding estimates, but earnings per share of $0.03 fell short of the $0.20 consensus forecast.
• Analyst sentiment remains mostly positive, with a “Moderate Buy” consensus and an average price target of $29.62; however, one firm maintains a sell rating. Zeta shares opened at $27.53 after recently rising 3.3%.

Bank of America Corp DE increased its holdings in shares of Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) by 47.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,853,723 shares of the company's stock after acquiring an additional 1,244,057 shares during the period. Bank of America Corp DE owned about 1.58% of Zeta Global worth $61,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Arkadios Wealth Advisors boosted its stake in Zeta Global by 14.4% in the first quarter. Arkadios Wealth Advisors now owns 15,416 shares of the company's stock worth $245,000 after purchasing an additional 1,946 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Zeta Global by 204.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the company's stock worth $33,000 after purchasing an additional 1,406 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Zeta Global by 31.7% in the first quarter. California State Teachers Retirement System now owns 227,521 shares of the company's stock valued at $3,622,000 after buying an additional 54,703 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Zeta Global by 69.8% in the first quarter. Royal Bank of Canada now owns 558,179 shares of the company's stock valued at $8,887,000 after buying an additional 229,533 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Zeta Global by 4.0% in the first quarter. The Manufacturers Life Insurance Company now owns 107,219 shares of the company's stock valued at $1,707,000 after buying an additional 4,100 shares in the last quarter. 87.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jeanine Silberblatt sold 7,500 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.89, for a total value of $149,175.00. Following the completion of the sale, the director owned 50,350 shares in the company, valued at $1,001,461.50. This represents a 12.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.74% of the stock is owned by company insiders.

Zeta Global Stock Up 3.3%

Shares of NYSE ZETA opened at $27.53 on Tuesday. The stock has a market cap of $6.86 billion, a P/E ratio of -1,376.50, a P/E/G ratio of 3.81 and a beta of 1.39. The firm has a 50 day moving average price of $21.39 and a 200 day moving average price of $18.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.38 and a current ratio of 2.38. Zeta Global Holdings Corp. has a 52-week low of $14.36 and a 52-week high of $28.50.

Zeta Global (NYSE:ZETA - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.17). The firm had revenue of $442.77 million during the quarter, compared to the consensus estimate of $420.61 million. Zeta Global had a negative net margin of 0.15% and a positive return on equity of 5.32%. The firm's revenue for the quarter was up 43.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) EPS. Analysts expect that Zeta Global Holdings Corp. will post 0.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ZETA shares. Needham & Company LLC upped their price target on shares of Zeta Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $28.00 price objective on shares of Zeta Global and gave the company a "neutral" rating in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zeta Global in a research note on Friday, July 17th. B. Riley Financial reaffirmed a "buy" rating and issued a $32.00 target price (up from $30.00) on shares of Zeta Global in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Zeta Global from a "hold" rating to a "buy" rating in a research report on Sunday. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.62.

About Zeta Global

Zeta Global, founded in 2007 and headquartered in New York City, is a leading data-driven marketing technology company. The firm's mission centers on helping brands acquire, grow and retain customers through a unified customer lifecycle management platform. Over the years, Zeta Global has built a reputation for leveraging big data and predictive analytics to power digital marketing programs across multiple channels.

At the core of Zeta's offering is the Zeta Marketing Platform, which combines identity resolution, audience insights and real-time engagement capabilities.

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