ZX Market Snapshot: December 2022:
ZXData Reported Holdings: Three months ending October 31st, 2022
1 Dollar-weighted return on all reported holdings
2 Equal-weighted mark-up or mark-down across all reported holdings
3 Positive Trend Reversal reflects an individual holding marked up after consecutive quarterly periods marked down or flat
4 Negative Trend Reversal reflects an individual holding marked down after consecutive quarterly periods marked up or flat
| Company | Normalized Std Dev5 | $ Weighted Avg | Max | Min |
|---|---|---|---|---|
| Redwood Materials | .46 | $39.42 | $78.00 | $30.84 |
| Phononic | .31 | $0.66 | $1.14 | $0.57 |
| Waymo | .31 | $54.53 | $91.72 | $45.82 |
| Blaize | .19 | $5.72 | $6.67 | $4.46 |
| Tanium | .14 | $7.57 | $8.71 | $6.58 |
5 Normalized Standard Deviation is used to express the measure of spread across reported marks and allows for comparison between companies independent of their price per share based on a dollar-weighted average.
6 Premium and Discount agnostic to share class
SpaceX
Klarna
Stripe
Anduril
Epic Games
Airtable
Flexport
Databricks
ThoughtSpot
Carta7 Companies that received the most ticket and profile view activity over the last 30 days
SpaceX, Klarna and Stripe were the three most active companies on ZX in December.
Bids represented 36% of submitted tickets on ZX in December, a 6% increase from the 12-month average of 30%. December transactions priced from a 40.3% discount to a 35.1% premium to October average reported holding values.
On average, ZX Sell Orders sit at a 26.75% discount to October’s median holding values, highlighted by offers in BYJU's, Rappi, Circle and Farmers Business Network. On the buyside, Stripe was the only company in the reported set to see a bid above its October median holding value.
This quarter, reporting holders marked down their private portfolios 5.8% with an average mark-down of 8.4%. The period saw more than two companies decline for each advancing company.
Treeline Bio saw the largest mark-up this reporting period, with Deep Instinct, Illumio and Blaize rounding out the largest gainers. Platforms and Content & Publishing saw the largest appreciation across sectors. Phononic saw the largest mark-down this reporting period, with Astranis, Malwarebytes and Bolt Threads rounding out the largest decliners. Semiconductor and Clothing & Apparel saw the largest depreciation across sectors.
Blaize, Boundless Bio and Evozyne saw their first positive reversals in five quarters. Astranis and BETA Technologies saw their first negative reversals in five quarters, while SiMa ai saw its first negative reversal in a year.
This period, Redwood Materials ($30.84 - $78.00) saw the highest share price variance across funds followed by Phononic ($0.57 - $1.14) and Waymo ($45.82 - $91.72).
This report is based on data reported by 250+ funds and $40 billion+ of value. Many holders of private company shares do not report their holding values and are thus not included in this report’s dataset. Further, many venture-backed private companies are not held by any reporting funds and are thus not included in this report. As such, this report should not be construed as providing a complete picture of shareholder sentiment or venture-backed private company performance. This report does not constitute investment advice or a "research report" as defined by FINRA Rules.
Zanbato, Inc. (“Zanbato”) prepares and disseminates market information about venture-backed private company securities, and the current bids and offers for those securities listed on the ATS operated by Zanbato (“ZX”). The information provided in this report has been prepared by sales, trading, or other non-research functions. Pricing indications and macro commentary are provided for factual information purposes only. This report is not intended to assess the individual merits of a particular investment or strategy, does not constitute a recommendation to buy or sell any financial instrument or to participate in any trading strategy and should not be construed as such. This report does not constitute investment advice. Certain information in this report has been obtained from third party sources and, while such information is believed by Zanbato to be reliable, it has not been independently verified by Zanbato and Zanbato shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with any use of, or reliance on, such third party information. Furthermore, the information contained in this report may not be current due to, among other things, changes in the financial markets or economic environment. Zanbato does not, and has no obligation to, update any such information contained in this report. Any prices or quotations contained herein are indicative only, do not represent firm quotes as to either price or size and should not be used for valuation purposes.
Go to zanbato.com