Zeta Global (NYSE:ZETA) Shares Gap Down - Here's What Happened

Key Points

• Zeta Global shares gapped down before Tuesday’s trading, opening at $20.75 after closing at $21.87, though the stock later traded back near $21.87.
• Despite the drop, analyst sentiment remains positive, with several firms recently raising ratings or price targets; MarketBeat shows a consensus Moderate Buy and an average target price of $28.33.
• The company continues to show strong institutional ownership, with hedge funds holding the vast majority of shares, while a recent insider sale by a director reduced her position by about 13%.

Zeta Global Holdings Corp. (NYSE:ZETA - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $21.87, but opened at $20.75. Zeta Global shares last traded at $21.8730, with a volume of 1,204,575 shares trading hands.

Wall Street Analysts Forecast Growth

ZETA has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Zeta Global from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. B. Riley Financial restated a "buy" rating on shares of Zeta Global in a report on Friday, May 1st. Bank of America upped their price target on shares of Zeta Global from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Royal Bank Of Canada increased their price objective on Zeta Global from $27.00 to $29.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, KeyCorp raised Zeta Global from a "sector weight" rating to an "overweight" rating and set a $22.00 price objective for the company in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $28.33.

Zeta Global Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -202.37, a PEG ratio of 3.18 and a beta of 1.37. The stock's 50 day simple moving average is $19.80 and its 200-day simple moving average is $18.77.

Insider Buying and Selling at Zeta Global

In related news, Director Jeanine Silberblatt sold 7,500 shares of Zeta Global 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 of the company's stock, valued at approximately $1,001,461.50. The trade was a 12.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.74% of the company's stock.

Hedge Funds Weigh In On Zeta Global

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Zeta Global by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 23,051,314 shares of the company's stock worth $469,094,000 after buying an additional 1,325,717 shares during the last quarter. Contour Asset Management LLC increased its holdings in shares of Zeta Global by 26.3% during the 4th quarter. Contour Asset Management LLC now owns 11,162,626 shares of the company's stock valued at $227,159,000 after acquiring an additional 2,327,907 shares during the last quarter. Disciplined Growth Investors Inc. MN acquired a new position in shares of Zeta Global during the 3rd quarter valued at about $121,502,000. Goldman Sachs Group Inc. increased its holdings in shares of Zeta Global by 13.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,582,446 shares of the company's stock valued at $113,603,000 after acquiring an additional 673,145 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Zeta Global by 0.7% in the 4th quarter. Capital World Investors now owns 5,013,776 shares of the company's stock valued at $102,030,000 after acquiring an additional 33,923 shares in the last quarter. 87.75% of the stock is owned by institutional investors and hedge funds.

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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