Bank of America Corp DE Trims Stock Position in Zeta Global Holdings Corp. (NYSE:ZETA)

Bank of America Corp DE lessened its stake in shares of Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) by 47.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,505 shares of the company's stock after selling 661,774 shares during the quarter. Bank of America Corp DE owned about 0.30% of Zeta Global worth $12,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Zeta Global during the fourth quarter valued at about $43,236,000. Renaissance Technologies LLC lifted its position in Zeta Global by 98.8% in the 4th quarter. Renaissance Technologies LLC now owns 4,719,762 shares of the company's stock valued at $84,909,000 after acquiring an additional 2,345,562 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in 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 purchasing an additional 2,244,953 shares during the last quarter. Battery Management Corp. purchased a new stake in shares of Zeta Global in the fourth quarter worth approximately $15,954,000. Finally, Franklin Resources Inc. raised its stake in shares of 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. 87.75% of the stock is owned by institutional investors.

Zeta Global Stock Performance

ZETA stock traded down $0.36 during midday trading on Wednesday, reaching $13.22. 435,223 shares of the company's stock traded hands, compared to its average volume of 5,329,855. The firm has a market capitalization of $3.11 billion, a PE ratio of -18.88, a price-to-earnings-growth ratio of 1.65 and a beta of 1.29. The company has a 50-day moving average price of $13.16 and a two-hundred day moving average price of $17.36. Zeta Global Holdings Corp. has a 52 week low of $10.69 and a 52 week high of $38.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.32 and a current ratio of 3.32.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZETA. William Blair reiterated an "outperform" rating on shares of Zeta Global in a report on Wednesday, February 26th. Morgan Stanley reduced their target price on shares of 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. The Goldman Sachs Group dropped their price target on shares of Zeta Global from $27.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Barclays reduced their price objective on shares of Zeta Global from $32.00 to $18.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group cut their target price on Zeta Global from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.36.

Zeta Global 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.