Vanguard Group Inc. Reduces Position in Ziff Davis, Inc. (NASDAQ:ZD)

Vanguard Group Inc. cut its position in Ziff Davis, Inc. (NASDAQ:ZD) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,654,545 shares of the technology company’s stock after selling 17,393 shares during the period. Vanguard Group Inc. owned 10.12% of Ziff Davis worth $296,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ZD. BlackRock Inc. purchased a new position in shares of Ziff Davis in the 1st quarter valued at $507,186,000. State Street Corp purchased a new position in shares of Ziff Davis in the 1st quarter valued at $143,604,000. Wellington Management Group LLP purchased a new position in shares of Ziff Davis in the 1st quarter valued at $142,930,000. Thrivent Financial for Lutherans grew its position in shares of Ziff Davis by 10,147.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,288,124 shares of the technology company’s stock valued at $100,538,000 after buying an additional 1,275,554 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Ziff Davis in the 1st quarter valued at $90,861,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Stock Up 0.8 %

ZD stock opened at $63.10 on Thursday. Ziff Davis, Inc. has a one year low of $57.97 and a one year high of $78.80. The stock has a market capitalization of $2.91 billion, a PE ratio of 76.95 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.76 and a current ratio of 2.76. The company has a fifty day moving average of $66.65 and a 200-day moving average of $65.05.

Ziff Davis (NASDAQ:ZD) last released its earnings results on Wednesday, February 21st. The technology company reported $2.19 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $400.71 million. As a group, analysts expect that Ziff Davis, Inc. will post 6.23 EPS for the current year.

Insider Activity at Ziff Davis

In related news, EVP Jeremy Rossen sold 4,162 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $69.43, for a total value of $288,967.66. Following the completion of the sale, the executive vice president now owns 7,261 shares in the company, valued at $504,131.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group decreased 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 note on Tuesday, March 5th. Evercore ISI increased their price target on shares of Ziff Davis from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Barclays increased their price target on shares of Ziff Davis from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Wedbush increased their price target on shares of Ziff Davis from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Ziff Davis in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ziff Davis presently has an average rating of “Moderate Buy” and an average price target of $81.17.

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.