Envestnet Asset Management Inc. Acquires 1,552 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Envestnet Asset Management Inc. grew its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,450 shares of the technology company’s stock after acquiring an additional 1,552 shares during the period. Envestnet Asset Management Inc.’s holdings in Ziff Davis were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in Ziff Davis by 278.9% in the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock worth $36,000 after buying an additional 488 shares during the period. GAMMA Investing LLC boosted its holdings in Ziff Davis by 148.4% in the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company’s stock worth $27,000 after buying an additional 426 shares during the period. Sterling Capital Management LLC boosted its holdings in Ziff Davis by 786.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,391 shares of the technology company’s stock worth $76,000 after buying an additional 1,234 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Ziff Davis by 118.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,605 shares of the technology company’s stock worth $196,000 after buying an additional 1,952 shares during the period. Finally, Western Wealth Management LLC bought a new position in Ziff Davis in the 4th quarter worth $217,000. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Stock Down 2.3%

Shares of NASDAQ ZD opened at $29.81 on Wednesday. The firm’s 50-day moving average price is $31.88 and its 200-day moving average price is $37.33. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 18.07 and a beta of 1.63. Ziff Davis, Inc. has a 12-month low of $28.55 and a 12-month high of $60.62.

Wall Street Analyst Weigh In

Several research analysts have commented on ZD shares. UBS Group set a $40.00 price objective on shares of Ziff Davis and gave the company a “neutral” rating in a report on Wednesday, May 14th. Susquehanna dropped their price objective on shares of Ziff Davis from $80.00 to $45.00 and set a “positive” rating for the company in a report on Monday, May 12th. Barclays dropped their price objective on shares of 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. downgraded shares of Ziff Davis from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $33.00 in a report on Tuesday, April 22nd. Finally, Citigroup dropped their price objective on shares of Ziff Davis from $52.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Ziff Davis currently has a consensus rating of “Hold” and an average target price of $47.00.

Ziff Davis Company 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.