Allspring Global Investments Holdings LLC Sells 3,635 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Allspring Global Investments Holdings LLC cut its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 678,200 shares of the technology company’s stock after selling 3,635 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ziff Davis were worth $45,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Ziff Davis by 60.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 46,171 shares of the technology company’s stock valued at $3,102,000 after buying an additional 17,379 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in Ziff Davis in the third quarter valued at $893,000. Victory Capital Management Inc. raised its position in Ziff Davis by 232.4% during the third quarter. Victory Capital Management Inc. now owns 54,066 shares of the technology company’s stock valued at $3,443,000 after purchasing an additional 37,800 shares in the last quarter. Headlands Technologies LLC lifted its stake in Ziff Davis by 18.6% during the third quarter. Headlands Technologies LLC now owns 5,909 shares of the technology company’s stock worth $376,000 after purchasing an additional 925 shares during the last quarter. Finally, Dark Forest Capital Management LP increased its position in shares of Ziff Davis by 381.8% during the 3rd quarter. Dark Forest Capital Management LP now owns 24,252 shares of the technology company’s stock valued at $1,545,000 after purchasing an additional 19,218 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Ziff Davis Trading Down 0.6 %

Shares of ZD opened at $53.80 on Friday. The stock has a market capitalization of $2.48 billion, a P/E ratio of 65.61 and a beta of 1.19. Ziff Davis, Inc. has a twelve month low of $53.44 and a twelve month high of $78.80. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $64.52 and a two-hundred day simple moving average of $64.50.

Ziff Davis (NASDAQ:ZD) last posted its earnings results on Wednesday, February 21st. The technology company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.02. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. The company had revenue of $389.89 million during the quarter, compared to analyst estimates of $400.71 million. On average, research analysts anticipate that Ziff Davis, Inc. will post 6.23 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Jeremy Rossen sold 4,162 shares of Ziff Davis stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $69.43, for a total value of $288,967.66. Following the sale, the executive vice president now owns 7,261 shares in the company, valued at $504,131.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ZD. Evercore ISI boosted their target price on Ziff Davis from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Wedbush boosted their price objective on shares of Ziff Davis from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Barclays increased their target price on shares of Ziff Davis from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. UBS Group cut their price target on shares of Ziff Davis from $77.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Ziff Davis in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.17.

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.