Tekne Capital Management LLC Acquires 357,258 Shares of Zayo Group Holdings, Inc. (ZAYO)
Tekne Capital Management LLC lifted its holdings in shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) by 66.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 896,758 shares of the technology company’s stock after buying an additional 357,258 shares during the quarter. Zayo Group makes up approximately 6.2% of Tekne Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Tekne Capital Management LLC owned approximately 0.36% of Zayo Group worth $30,866,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Dodge & Cox raised its stake in shares of Zayo Group by 0.6% during the 2nd quarter. Dodge & Cox now owns 16,565,828 shares of the technology company’s stock worth $511,884,000 after buying an additional 96,250 shares during the period. Vanguard Group Inc. increased its position in shares of Zayo Group by 8.9% during the second quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock worth $425,998,000 after purchasing an additional 1,127,326 shares in the last quarter. BlackRock Inc. increased its position in shares of Zayo Group by 8.7% during the second quarter. BlackRock Inc. now owns 10,207,343 shares of the technology company’s stock worth $315,410,000 after purchasing an additional 813,652 shares in the last quarter. Carmignac Gestion increased its position in shares of Zayo Group by 6.7% during the third quarter. Carmignac Gestion now owns 5,196,674 shares of the technology company’s stock worth $178,870,000 after purchasing an additional 328,486 shares in the last quarter. Finally, State Street Corp increased its position in shares of Zayo Group by 9.6% during the second quarter. State Street Corp now owns 3,117,303 shares of the technology company’s stock worth $96,324,000 after purchasing an additional 272,503 shares in the last quarter. 84.11% of the stock is owned by institutional investors and hedge funds.
ZAYO has been the subject of several research reports. BidaskClub upgraded Zayo Group from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Oppenheimer reiterated a “buy” rating and set a $42.00 price target on shares of Zayo Group in a research report on Wednesday, September 13th. Moffett Nathanson reiterated a “neutral” rating and set a $39.00 price target (up from $34.00) on shares of Zayo Group in a research report on Thursday, September 28th. Barclays boosted their price target on Zayo Group from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Finally, KeyCorp reiterated a “hold” rating on shares of Zayo Group in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.46.
In other Zayo Group news, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $34.35, for a total value of $161,445,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Caruso sold 29,114 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $34.35, for a total value of $1,000,065.90. Following the completion of the sale, the chief executive officer now owns 4,284,854 shares of the company’s stock, valued at $147,184,734.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,637,348 shares of company stock valued at $338,372,529. 5.20% of the stock is owned by company insiders.
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About Zayo Group
Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.
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