BlackRock Inc. Sells 279,272 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

BlackRock Inc. cut its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD – Get Rating) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,330,905 shares of the technology company’s stock after selling 279,272 shares during the period. BlackRock Inc. owned about 11.30% of Ziff Davis worth $365,057,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Zions Bancorporation N.A. acquired a new position in Ziff Davis during the 1st quarter worth approximately $25,000. Ronald Blue Trust Inc. bought a new stake in shares of Ziff Davis during the second quarter worth $30,000. Quadrant Capital Group LLC increased its holdings in shares of Ziff Davis by 622.0% during the third quarter. Quadrant Capital Group LLC now owns 722 shares of the technology company’s stock worth $49,000 after buying an additional 622 shares in the last quarter. New Millennium Group LLC bought a new position in shares of Ziff Davis in the 2nd quarter valued at $57,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Ziff Davis during the 1st quarter valued at $100,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

ZD has been the subject of several research reports. TheStreet upgraded Ziff Davis from a “c+” rating to a “b-” rating in a research report on Tuesday, November 29th. Robert W. Baird cut their target price on shares of Ziff Davis from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, November 10th. Barclays assumed coverage on shares of Ziff Davis in a research report on Friday, January 6th. They issued an “equal weight” rating and a $88.00 price target for the company. JPMorgan Chase & Co. lowered shares of Ziff Davis from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $115.00 to $85.00 in a report on Tuesday, December 20th. Finally, Citigroup decreased their price objective on Ziff Davis from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, February 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.80.

Ziff Davis Stock Performance

Shares of ZD opened at $76.05 on Friday. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.53. The firm’s fifty day simple moving average is $84.17 and its two-hundred day simple moving average is $80.80. Ziff Davis, Inc. has a 12 month low of $66.85 and a 12 month high of $103.87. The stock has a market capitalization of $3.59 billion, a P/E ratio of 60.84 and a beta of 1.15.

About Ziff Davis

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Ziff Davis, Inc is a digital media and internet company. It operates through the following segments: Digital Media and Cybersecurity and Martech. The Digital Media segment consists of a portfolio of web properties and apps which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle,Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter and What to Expect, among others.