Ziff Davis (NASDAQ:ZD) CEO Vivek Shah Sells 2,650 Shares of Stock

Ziff Davis, Inc. (NASDAQ:ZD) CEO Vivek Shah sold 2,650 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $50.67, for a total transaction of $134,275.50. Following the completion of the transaction, the chief executive officer owned 357,632 shares in the company, valued at approximately $18,121,213.44. This trade represents a 0.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ziff Davis Stock Performance

NASDAQ ZD traded down $0.20 on Friday, hitting $51.49. 371,711 shares of the company’s stock traded hands, compared to its average volume of 729,314. The company has a current ratio of 2.35, a quick ratio of 2.16 and a debt-to-equity ratio of 0.34. Ziff Davis, Inc. has a 1-year low of $22.45 and a 1-year high of $60.48. The firm’s 50-day moving average price is $55.93 and its two-hundred day moving average price is $47.94. The firm has a market capitalization of $1.70 billion, a PE ratio of 3.04 and a beta of 1.10.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Thursday, November 5th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. The firm had revenue of $289.33 million for the quarter, compared to analyst estimates of $295.31 million. Ziff Davis had a net margin of 49.46% and a return on equity of 9.10%. The business’s quarterly revenue was down 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 earnings per share. As a group, analysts expect that Ziff Davis, Inc. will post 4.41 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZD shares. Citigroup decreased their price objective on Ziff Davis from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday. Royal Bank Of Canada upped their price target on Ziff Davis from $48.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Zacks Research upgraded shares of Ziff Davis to a “hold” rating in a research report on Tuesday, September 15th. Yorkville Ives started coverage on Ziff Davis in a research report on Wednesday, October 7th. They set an “outperform” rating and a $68.00 price target for the company. Finally, Weiss Ratings lowered shares of Ziff Davis from a “hold (c+)” rating to a “hold (c-)” rating in a report on Monday. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ziff Davis currently has a consensus rating of “Hold” and a consensus price target of $60.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC purchased a new stake in Ziff Davis during the 3rd quarter worth about $1,657,000. Public Sector Pension Investment Board raised its position in shares of Ziff Davis by 29.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 163,237 shares of the technology company’s stock worth $9,481,000 after acquiring an additional 36,724 shares in the last quarter. Royce & Associates LP raised its holdings in Ziff Davis by 2.2% during the third quarter. Royce & Associates LP now owns 50,025 shares of the technology company’s stock worth $2,836,000 after purchasing an additional 1,088 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Ziff Davis by 26.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 6,786 shares of the technology company’s stock valued at $385,000 after buying an additional 1,437 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Ziff Davis by 16.8% in the 3rd quarter. Ritholtz Wealth Management now owns 23,657 shares of the technology company’s stock valued at $1,341,000 after buying an additional 3,399 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

About Ziff Davis

Ziff Davis, Inc. is a digital media and internet company that operates a portfolio of websites, apps and online services. Its brands cover technology and shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity and marketing technology. They include PCMag, IGN, Mashable, Everyday Health and Ookla, whose services include Speedtest and Downdetector. The company serves consumers and businesses in the United States and international markets. Its activities include publishing editorial content, providing internet and software services, and offering digital advertising and marketing solutions.