Ziff Davis, Inc. $ZD Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 5.7% in the first quarter, Holdings Channel.com reports. The fund owned 320,275 shares of the technology company’s stock after selling 19,387 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ziff Davis were worth $13,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake in shares of Ziff Davis by 17.5% in the 4th quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock valued at $31,906,000 after purchasing an additional 135,021 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Ziff Davis by 10.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 860,582 shares of the technology company’s stock worth $30,249,000 after purchasing an additional 82,761 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ziff Davis by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 835,113 shares of the technology company’s stock worth $29,354,000 after purchasing an additional 44,923 shares in the last quarter. Nuveen LLC increased its position in Ziff Davis by 10.2% during the 4th quarter. Nuveen LLC now owns 808,325 shares of the technology company’s stock worth $28,413,000 after purchasing an additional 75,047 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Ziff Davis by 260.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock valued at $21,005,000 after buying an additional 431,828 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Ziff Davis Stock Performance

Ziff Davis stock opened at $53.08 on Friday. The stock’s 50 day moving average price is $49.37 and its 200 day moving average price is $43.09. The firm has a market capitalization of $1.95 billion, a PE ratio of 46.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $54.97.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The firm had revenue of $267.64 million during the quarter, compared to analysts’ expectations of $264.32 million. During the same quarter in the prior year, the business earned $1.14 EPS. Ziff Davis’s quarterly revenue was down 1.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

ZD has been the subject of several research reports. Zacks Research downgraded shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Barclays raised their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Susquehanna lifted their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada increased their price target on Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ziff Davis presently has a consensus rating of “Hold” and an average target price of $47.25.

Insider Transactions at Ziff Davis

In other news, Director Kirk P. Mcdonald sold 1,075 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of the transaction, the director directly owned 13,468 shares in the company, valued at approximately $628,282.20. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bret Richter sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the sale, the chief financial officer directly owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 31,422 shares of company stock valued at $1,468,864. Corporate insiders own 3.40% of the company’s stock.

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.