Principal Financial Group Inc. Acquires 113,838 Shares of Zeta Global Holdings Corp. (NYSE:ZETA)

Principal Financial Group Inc. boosted its stake in shares of Zeta Global Holdings Corp. (NYSE:ZETA) by 512.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,058 shares of the company’s stock after purchasing an additional 113,838 shares during the period. Principal Financial Group Inc. owned 0.06% of Zeta Global worth $4,059,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ZETA. D. E. Shaw & Co. Inc. raised its position in shares of Zeta Global by 1,444.8% in the second 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 period. William Blair Investment Management LLC acquired a new position in Zeta Global during the second quarter worth about $28,698,000. Renaissance Technologies LLC lifted its stake in Zeta Global by 85.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,019,000 shares of the company’s stock valued at $35,635,000 after purchasing an additional 929,800 shares during the last quarter. Millennium Management LLC grew its position in Zeta Global by 358.3% during the 2nd quarter. Millennium Management LLC now owns 1,189,295 shares of the company’s stock worth $20,991,000 after acquiring an additional 929,792 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Zeta Global during the 2nd quarter worth approximately $9,783,000. 75.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zeta Global

In other news, COO Steven H. Gerber bought 13,250 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were 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 owns 2,940,811 shares of the company’s stock, valued at approximately $54,552,044.05. This trade represents a 0.45 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Christopher E. Greiner purchased 7,975 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $18.80 per share, with a total value of $149,930.00. Following the transaction, the chief financial officer now directly owns 2,330,010 shares in the company, valued at $43,804,188. This trade represents a 0.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 129,901 shares of company stock worth $2,471,244 over the last three months. Company insiders own 25.54% of the company’s stock.

Zeta Global Price Performance

Shares of NYSE ZETA opened at $21.72 on Friday. The stock’s 50-day simple moving average is $28.22 and its two-hundred day simple moving average is $22.73. The firm has a market capitalization of $4.78 billion, a P/E ratio of -31.03 and a beta of 1.29. Zeta Global Holdings Corp. has a twelve month low of $7.65 and a twelve month high of $38.20. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.41.

Zeta Global (NYSE:ZETA) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.26). The firm 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%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period last year, the firm earned ($0.27) EPS. As a group, equities analysts anticipate that Zeta Global Holdings Corp. will post -0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. KeyCorp downgraded shares of Zeta Global from an “overweight” rating to a “sector weight” rating in a research report on Thursday, November 14th. Bank of America raised their price objective on Zeta Global from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Oppenheimer raised their price target on shares of Zeta Global from $33.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Truist Financial reissued a “buy” rating and set a $42.00 target price (up previously from $35.00) on shares of Zeta Global in a research report on Tuesday, November 12th. Finally, Barclays upped their price objective on Zeta Global from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.