Heron Bay Capital Management Lowers Position in Ziff Davis, Inc. (NASDAQ:ZD)

Heron Bay Capital Management trimmed its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 65.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,655 shares of the technology company’s stock after selling 8,904 shares during the quarter. Heron Bay Capital Management’s holdings in Ziff Davis were worth $253,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC grew its holdings in Ziff Davis by 2.0% in the third quarter. Janus Henderson Group PLC now owns 3,214,600 shares of the technology company’s stock valued at $156,422,000 after purchasing an additional 62,261 shares during the period. Geode Capital Management LLC grew its holdings in Ziff Davis by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company’s stock valued at $62,040,000 after purchasing an additional 36,863 shares during the period. Pacer Advisors Inc. grew its holdings in Ziff Davis by 100,954.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,221 shares of the technology company’s stock valued at $68,861,000 after purchasing an additional 1,265,967 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Ziff Davis by 9.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 757,944 shares of the technology company’s stock valued at $41,187,000 after purchasing an additional 62,402 shares during the period. Finally, Brave Asset Management Inc. grew its holdings in Ziff Davis by 3.9% in the fourth quarter. Brave Asset Management Inc. now owns 363,527 shares of the technology company’s stock valued at $19,754,000 after purchasing an additional 13,659 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZD shares. Citigroup decreased their price objective on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. UBS Group decreased their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Ziff Davis currently has a consensus rating of “Moderate Buy” and an average price target of $65.67.

Ziff Davis Trading Down 0.4 %

ZD opened at $41.82 on Friday. The stock has a market capitalization of $1.79 billion, a PE ratio of 35.44 and a beta of 1.42. The firm’s fifty day moving average price is $48.42 and its 200 day moving average price is $50.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. Ziff Davis, Inc. has a 12-month low of $37.62 and a 12-month high of $63.87.

Insiders Place Their Bets

In other Ziff Davis news, CFO Bret Richter bought 2,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.21 per share, with a total value of $98,025.00. Following the completion of the acquisition, the chief financial officer now owns 16,339 shares of the company’s stock, valued at approximately $640,652.19. This trade represents a 18.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sarah Ann Fay purchased 1,282 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $39.00 per share, with a total value of $49,998.00. Following the transaction, the director now directly owns 18,655 shares of the company’s stock, valued at approximately $727,545. The trade was a 7.38 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 5,028 shares of company stock valued at $198,024. Company insiders own 2.08% of the company’s stock.

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.