Granahan Investment Management LLC Sells 2,209,527 Shares of Zeta Global Holdings Corp. (NYSE:ZETA)

Granahan Investment Management LLC lowered its stake in shares of Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) by 77.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 655,702 shares of the company's stock after selling 2,209,527 shares during the period. Granahan Investment Management LLC owned 0.28% of Zeta Global worth $11,796,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Zeta Global in the fourth quarter worth about $43,236,000. Renaissance Technologies LLC increased its position in shares of Zeta Global by 98.8% in the fourth 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 during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Zeta Global by 119.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,129,255 shares of the company's stock worth $74,285,000 after buying an additional 2,244,953 shares during the period. Battery Management Corp. purchased a new position in Zeta Global during the 4th quarter valued at $15,954,000. Finally, Cercano Management LLC purchased a new position in shares of Zeta Global during the 4th quarter worth approximately $15,475,000. Hedge funds and other institutional investors own 87.75% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZETA. Barclays reduced their price target on Zeta Global from $32.00 to $18.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC lowered their target price on Zeta Global from $43.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Zeta Global in a research report on Wednesday, February 26th. DA Davidson reduced their price target on shares of Zeta Global from $42.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Canaccord Genuity Group cut their target price on shares of Zeta Global from $28.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.36.

Zeta Global Price Performance

ZETA traded down $0.55 during trading on Thursday, hitting $14.05. 2,573,094 shares of the company traded hands, compared to its average volume of 5,329,869. The stock's 50-day simple moving average is $13.28 and its two-hundred day simple moving average is $18.46. Zeta Global Holdings Corp. has a 1 year low of $10.69 and a 1 year high of $38.20. The company has a market cap of $3.34 billion, a PE ratio of -20.11, a P/E/G ratio of 1.65 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.

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.