Arizona State Retirement System lowered its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD – Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,995 shares of the technology company’s stock after selling 468 shares during the period. Arizona State Retirement System’s holdings in Ziff Davis were worth $873,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Ziff Davis in the 1st quarter worth about $507,186,000. Vanguard Group Inc. acquired a new stake in Ziff Davis in the 1st quarter worth about $423,655,000. State Street Corp acquired a new stake in Ziff Davis in the 1st quarter worth about $143,604,000. Wellington Management Group LLP acquired a new stake in Ziff Davis in the 1st quarter worth about $142,930,000. Finally, Thrivent Financial for Lutherans boosted its stake in Ziff Davis by 10,147.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,288,124 shares of the technology company’s stock worth $100,538,000 after buying an additional 1,275,554 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.
Ziff Davis Stock Performance
Shares of NASDAQ:ZD opened at $51.05 on Wednesday. The company has a market cap of $2.35 billion, a P/E ratio of 62.26 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.76 and a current ratio of 2.76. Ziff Davis, Inc. has a one year low of $50.73 and a one year high of $77.96. The business’s 50-day simple moving average is $63.65 and its 200 day simple moving average is $64.25.
Insider Activity at Ziff Davis
In related news, EVP Jeremy Rossen sold 4,162 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $69.43, for a total transaction of $288,967.66. Following the sale, the executive vice president now directly owns 7,261 shares in the company, valued at approximately $504,131.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.33% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on ZD shares. Evercore ISI raised their price target on Ziff Davis from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Wedbush lifted their price objective on Ziff Davis from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a research note on Friday, February 23rd. UBS Group reduced their price objective on Ziff Davis from $77.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 5th. Finally, Barclays lifted their price objective on Ziff Davis from $66.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ziff Davis currently has an average rating of “Moderate Buy” and an average price target of $81.17.
View Our Latest Stock Analysis on ZD
About Ziff Davis
Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.
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