Ziff Davis, Inc. $ZD Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,723 shares of the technology company’s stock after selling 15,557 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.30% of Ziff Davis worth $5,380,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in Ziff Davis in the fourth quarter worth approximately $25,000. Allworth Financial LP acquired a new position in shares of Ziff Davis during the 2nd quarter valued at $44,000. Hantz Financial Services Inc. raised its stake in shares of Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after buying an additional 590 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Ziff Davis by 226.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after buying an additional 687 shares during the period. Finally, TD Private Client Wealth LLC acquired a new stake in shares of Ziff Davis in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Insider Activity

In other Ziff Davis news, Director W. Brian Kretzmer sold 2,513 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total transaction of $138,994.03. Following the completion of the sale, the director directly owned 20,000 shares in the company, valued at approximately $1,106,200. This trade represents a 11.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeremy Rossen sold 3,819 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the transaction, the executive vice president owned 10,643 shares in the company, valued at $584,619.99. This represents a 26.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 7,732 shares of company stock worth $425,436. 3.40% of the stock is owned by corporate insiders.

Ziff Davis Stock Performance

Ziff Davis stock opened at $55.73 on Wednesday. Ziff Davis, Inc. has a fifty-two week low of $22.45 and a fifty-two week high of $58.06. The firm’s 50 day simple moving average is $53.97 and its 200-day simple moving average is $46.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $1.91 billion, a P/E ratio of 3.15 and a beta of 1.09.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The business had revenue of $286.74 million during the quarter, compared to the consensus estimate of $286.10 million. During the same quarter in the prior year, the firm earned $1.24 EPS. The firm’s quarterly revenue was down 18.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Susquehanna lifted their target price on Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a report on Monday, August 10th. Citigroup lifted their price objective on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Evercore reissued an “outperform” rating and set a $64.00 target price on shares of Ziff Davis in a research note on Monday, August 10th. UBS Group lifted their price target on shares of Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada upped their price target on Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ziff Davis has a consensus rating of “Hold” and a consensus price target of $56.62.

About Ziff Davis

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.