Ziff Davis, Inc. $ZD Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Ziff Davis, Inc. (NASDAQ:ZD) by 24.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 38,627 shares of the technology company’s stock after selling 12,517 shares during the period. New York State Teachers Retirement System’s holdings in Ziff Davis were worth $1,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in Ziff Davis during the fourth quarter valued at about $25,000. Hantz Financial Services Inc. raised its holdings in shares of Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after purchasing an additional 590 shares during the period. NBC Securities Inc. lifted its stake in shares of Ziff Davis by 121.2% in the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after purchasing an additional 485 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ziff Davis by 207.1% in the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock worth $35,000 after purchasing an additional 687 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Ziff Davis Stock Down 1.3%

Shares of ZD stock traded down $0.68 during mid-day trading on Friday, reaching $52.18. 391,277 shares of the company were exchanged, compared to its average volume of 707,365. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. The business’s 50 day simple moving average is $46.25 and its 200 day simple moving average is $41.23. The company has a market capitalization of $1.92 billion, a P/E ratio of 46.18 and a beta of 1.08. Ziff Davis, Inc. has a fifty-two week low of $22.45 and a fifty-two week high of $54.75.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm had revenue of $267.64 million for the quarter, compared to analysts’ expectations of $264.32 million. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was down 1.9% on a year-over-year basis.

Insider Transactions at Ziff Davis

In other news, CFO Bret Richter sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the transaction, the chief financial officer owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeremy Rossen sold 8,000 shares of Ziff Davis stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the completion of the transaction, the executive vice president owned 14,462 shares of the company’s stock, valued at $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 31,422 shares of company stock valued at $1,468,864. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ZD has been the topic of several research reports. Zacks Research lowered shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their price objective on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Barclays raised their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Susquehanna lifted their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.25.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.