Arizona State Retirement System Cuts Stock Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Arizona State Retirement System reduced its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,244 shares of the technology company’s stock after selling 734 shares during the period. Arizona State Retirement System’s holdings in Ziff Davis were worth $460,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of Ziff Davis in the first quarter worth $736,000. GAMMA Investing LLC boosted its stake in Ziff Davis by 148.4% in the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company’s stock worth $27,000 after purchasing an additional 426 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Ziff Davis by 19.6% in the fourth quarter. Wells Fargo & Company MN now owns 28,506 shares of the technology company’s stock valued at $1,549,000 after buying an additional 4,670 shares during the period. Principal Financial Group Inc. boosted its holdings in Ziff Davis by 2.6% in the first quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company’s stock worth $7,997,000 after acquiring an additional 5,456 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Ziff Davis by 52.2% in the fourth quarter. Franklin Resources Inc. now owns 32,819 shares of the technology company’s stock valued at $1,783,000 after purchasing an additional 11,263 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Stock Performance

NASDAQ:ZD opened at $30.33 on Tuesday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 5.24 and a beta of 1.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.52 and a quick ratio of 1.52. The stock’s 50 day simple moving average is $32.13 and its two-hundred day simple moving average is $39.06. Ziff Davis, Inc. has a 1 year low of $29.15 and a 1 year high of $60.62.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ZD shares. UBS Group set a $40.00 price target on Ziff Davis and gave the company a “neutral” rating in a report on Wednesday, May 14th. Barclays lowered their price target on Ziff Davis from $48.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered Ziff Davis from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $33.00 in a report on Tuesday, April 22nd. Citigroup cut their price target on shares of Ziff Davis from $52.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Finally, Susquehanna decreased their price target on shares of Ziff Davis from $80.00 to $45.00 and set a “positive” rating on the stock in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Ziff Davis presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Ziff Davis Profile

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.