Ziff Davis, Inc. $ZD Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Ziff Davis, Inc. (NASDAQ:ZD) by 28.9% during the 1st quarter, Holdings Channel reports. The fund owned 301,529 shares of the technology company’s stock after acquiring an additional 67,547 shares during the quarter. Principal Financial Group Inc.’s holdings in Ziff Davis were worth $12,652,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms recently weighed in on ZD. Piper Sandler set a $48.00 target price on Ziff Davis in a research note on Monday, May 11th. Royal Bank Of Canada upped their target price on shares of Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Barclays increased 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 report on Monday, May 11th. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Finally, Evercore reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Ziff Davis in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.25.

Ziff Davis Stock Down 0.4%

ZD stock opened at $51.60 on Friday. The stock has a market capitalization of $1.90 billion, a PE ratio of 45.66 and a beta of 1.08. The company has a fifty day moving average of $48.29 and a 200-day moving average of $42.45. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $54.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66.

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

Insider Activity at Ziff Davis

In related news, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the sale, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bret Richter sold 18,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was 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 in the company, valued at $1,370,958.72. The trade was a 38.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,422 shares of company stock worth $1,468,864 over the last 90 days. Company insiders own 3.40% of the company’s stock.

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.