Shares of Ziff Davis, Inc. (NASDAQ:ZD – Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $50.61 and last traded at $50.3660, with a volume of 4348 shares. The stock had previously closed at $50.42.
Analysts Set New Price Targets
Several research analysts have weighed in on ZD shares. Evercore reissued an “outperform” rating and issued a $61.00 price target on shares of Ziff Davis in a report on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Zacks Research downgraded Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Finally, Piper Sandler set a $48.00 price objective on shares of Ziff Davis in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.25.
Check Out Our Latest Research Report on Ziff Davis
Ziff Davis Price Performance
Ziff Davis (NASDAQ:ZD – Get Free Report) last released its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The company had revenue of $267.64 million for the quarter, compared to analyst estimates of $264.32 million. During the same period in the prior year, the firm posted $1.14 EPS. Ziff Davis’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts expect that Ziff Davis, Inc. will post 4.08 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Bret Richter sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the sale, the chief financial officer owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. This represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kirk P. Mcdonald sold 1,075 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the sale, the director owned 13,468 shares in the company, valued at $628,282.20. This represents a 7.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,422 shares of company stock worth $1,468,864 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in shares of Ziff Davis in the 4th quarter valued at $25,000. NBC Securities Inc. lifted its position in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock worth $31,000 after buying an additional 485 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Ziff Davis by 212.2% during the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after buying an additional 590 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ziff Davis by 207.1% in the fourth quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock valued at $32,000 after buying an additional 611 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Ziff Davis by 226.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after acquiring an additional 687 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.
About Ziff Davis
Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.
Founded in 1927 by William B.
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