Ziff Davis (NASDAQ:ZD) Lowered to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Ziff Davis (NASDAQ:ZD) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $33.00 price target on the technology company’s stock, down from their prior price target of $60.00.

Several other equities research analysts also recently weighed in on the company. UBS Group cut their price objective on Ziff Davis from $65.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Citigroup lowered their target price on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.17.

Ziff Davis Stock Down 2.1 %

NASDAQ ZD opened at $30.31 on Tuesday. Ziff Davis has a fifty-two week low of $29.34 and a fifty-two week high of $60.62. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The business has a fifty day moving average price of $39.36 and a two-hundred day moving average price of $48.42. The stock has a market capitalization of $1.30 billion, a PE ratio of 25.69 and a beta of 1.47.

Insider Buying and Selling

In related news, Director W Brian Kretzmer acquired 653 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $38.33 per share, for a total transaction of $25,029.49. Following the completion of the acquisition, the director now owns 12,968 shares of the company’s stock, valued at approximately $497,063.44. This trade represents a 5.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sarah Ann Fay bought 1,282 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the transaction, the director now directly owns 18,655 shares in the company, valued at $727,545. This represents a 7.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 5,028 shares of company stock valued at $198,024 over the last 90 days. Company insiders own 2.16% of the company’s stock.

Institutional Trading of Ziff Davis

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. bought a new stake in Ziff Davis during the third quarter worth $986,000. Virtu Financial LLC bought a new stake in Ziff Davis in the 3rd quarter worth about $503,000. Principal Financial Group Inc. lifted its position in shares of Ziff Davis by 36.4% during the 3rd quarter. Principal Financial Group Inc. now owns 210,989 shares of the technology company’s stock worth $10,267,000 after buying an additional 56,352 shares in the last quarter. Brave Asset Management Inc. grew its holdings in shares of Ziff Davis by 3.9% in the fourth quarter. Brave Asset Management Inc. now owns 363,527 shares of the technology company’s stock valued at $19,754,000 after acquiring an additional 13,659 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Ziff Davis by 19.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 350,604 shares of the technology company’s stock worth $19,052,000 after acquiring an additional 57,830 shares during the period. Institutional investors own 99.76% of the company’s stock.

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.