Lord Abbett & CO. LLC Has $170.33 Million Stock Holdings in Zeta Global Holdings Corp. (NYSE:ZETA)

Lord Abbett & CO. LLC lifted its position in shares of Zeta Global Holdings Corp. (NYSE:ZETA) by 85.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,710,081 shares of the company’s stock after buying an additional 2,623,980 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Zeta Global were worth $170,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its stake in Zeta Global by 84,132.4% during the 3rd quarter. FMR LLC now owns 3,561,347 shares of the company’s stock worth $106,235,000 after acquiring an additional 3,557,119 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Zeta Global by 1,444.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,847,610 shares of the company’s stock valued at $32,610,000 after purchasing an additional 1,728,005 shares during the last quarter. Summit Partners Public Asset Management LLC raised its holdings in shares of Zeta Global by 210.4% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 2,513,494 shares of the company’s stock worth $74,978,000 after buying an additional 1,703,679 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Zeta Global in the second quarter valued at about $28,698,000. Finally, Renaissance Technologies LLC grew its position in Zeta Global by 85.4% in the second quarter. Renaissance Technologies LLC now owns 2,019,000 shares of the company’s stock valued at $35,635,000 after acquiring an additional 929,800 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Zeta Global Stock Performance

ZETA stock opened at $22.34 on Friday. Zeta Global Holdings Corp. has a 1-year low of $7.84 and a 1-year high of $38.20. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $26.13 and a 200-day moving average price of $23.40. The firm has a market cap of $5.30 billion, a PE ratio of -31.91 and a beta of 1.12.

Zeta Global (NYSE:ZETA) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.26). The business had revenue of $268.30 million for the quarter, compared to the consensus estimate of $252.68 million. Zeta Global had a negative return on equity of 45.22% and a negative net margin of 13.35%. Zeta Global’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.27) earnings per share. As a group, equities research analysts expect that Zeta Global Holdings Corp. will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ZETA shares. Canaccord Genuity Group increased their target price on shares of Zeta Global from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Morgan Stanley dropped their target price on Zeta Global from $41.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Roth Mkm boosted their price target on Zeta Global from $33.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Craig Hallum upped their price objective on Zeta Global from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Truist Financial reiterated a “buy” rating and set a $42.00 target price (up from $35.00) on shares of Zeta Global in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zeta Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

Insiders Place Their Bets

In other news, COO Steven H. Gerber acquired 13,250 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $18.55 per share, for a total transaction of $245,787.50. Following the completion of the acquisition, the chief operating officer now directly owns 2,940,811 shares in the company, valued at $54,552,044.05. The trade was a 0.45 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David Steinberg bought 53,676 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $19.24 per share, for a total transaction of $1,032,726.24. Following the completion of the acquisition, the chief executive officer now owns 65,310 shares in the company, valued at $1,256,564.40. This represents a 461.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 129,901 shares of company stock worth $2,471,244. 25.54% of the stock is currently owned by company insiders.

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.