Edgestream Partners L.P. bought a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD – Free Report) during the 1st quarter, Holdings Channel.com reports. The firm bought 83,140 shares of the technology company’s stock, valued at approximately $3,489,000.
Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Ziff Davis by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 160,656 shares of the technology company’s stock worth $6,037,000 after buying an additional 3,696 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ziff Davis by 1.3% during the second quarter. Invesco Ltd. now owns 188,595 shares of the technology company’s stock valued at $5,709,000 after acquiring an additional 2,347 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Ziff Davis by 46.2% during the second quarter. First Trust Advisors LP now owns 100,549 shares of the technology company’s stock valued at $3,044,000 after acquiring an additional 31,765 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Ziff Davis during the second quarter worth about $927,000. Finally, Cerity Partners LLC purchased a new stake in shares of Ziff Davis during the second quarter worth about $380,000. 99.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ZD has been the topic of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Ziff Davis in a research report on Tuesday, May 12th. Susquehanna raised their price target on shares of Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada lifted their price target on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Barclays upped their price target on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Zacks Research lowered shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.25.
Ziff Davis Trading Up 0.9%
NASDAQ ZD opened at $53.08 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $54.97. The company has a 50-day simple moving average of $49.37 and a 200-day simple moving average of $43.09. The firm has a market capitalization of $1.95 billion, a PE ratio of 46.97 and a beta of 1.08.
Ziff Davis (NASDAQ:ZD – Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share 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 firm had revenue of $267.64 million for the quarter, compared to analyst estimates of $264.32 million. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis.
Insider Buying and Selling at Ziff Davis
In other Ziff Davis news, Director Kirk P. Mcdonald sold 1,075 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeremy Rossen sold 8,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the sale, the executive vice president directly owned 14,462 shares of the company’s stock, valued at $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 31,422 shares of company stock valued at $1,468,864. Company insiders own 3.40% of the company’s stock.
Ziff Davis Company Profile
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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