Ewing Morris & Co. Investment Partners Ltd. Reduces Stock Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Ewing Morris & Co. Investment Partners Ltd. lowered its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 99.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,136 shares of the technology company's stock after selling 5,838,000 shares during the quarter. Ewing Morris & Co. Investment Partners Ltd. owned 0.09% of Ziff Davis worth $2,127,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ziff Davis in the third quarter valued at $37,000. Franklin Resources Inc. purchased a new stake in shares of Ziff Davis in the third quarter valued at $986,000. Principal Financial Group Inc. raised its stake in shares of Ziff Davis by 36.4% in the third quarter. Principal Financial Group Inc. now owns 210,989 shares of the technology company's stock valued at $10,267,000 after acquiring an additional 56,352 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Ziff Davis by 170.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 259,758 shares of the technology company's stock valued at $14,115,000 after acquiring an additional 163,708 shares during the period. Finally, Brave Asset Management Inc. raised its stake in shares of 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 acquiring an additional 13,659 shares during the period. Institutional investors own 99.76% of the company's stock.

Insider Buying and Selling

In related news, CFO Bret Richter purchased 2,500 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $39.21 per share, with a total value of $98,025.00. Following the acquisition, the chief financial officer now owns 16,339 shares in the company, valued at $640,652.19. The trade was a 18.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Brian Kretzmer bought 653 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $38.33 per share, with a total value of $25,029.49. Following the acquisition, the director now directly owns 12,968 shares of the company's stock, valued at approximately $497,063.44. This represents a 5.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 5,028 shares of company stock worth $198,024 in the last three months. Corporate insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ZD shares. JPMorgan Chase & Co. cut shares of Ziff Davis from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $60.00 to $33.00 in a report on Tuesday, April 22nd. Barclays dropped their target price on shares of Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating on the stock in a report on Tuesday. Citigroup dropped their target price on shares of Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. UBS Group dropped their target price on shares of Ziff Davis from $65.00 to $56.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Susquehanna lowered their price target on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Ziff Davis presently has an average rating of "Hold" and an average target price of $49.67.

Ziff Davis Stock Down 1.9%

Shares of NASDAQ:ZD traded down $0.65 during trading on Wednesday, reaching $33.34. The stock had a trading volume of 298,012 shares, compared to its average volume of 516,829. The firm's 50-day simple moving average is $35.09 and its 200 day simple moving average is $46.95. The company has a market capitalization of $1.43 billion, a P/E ratio of 28.25 and a beta of 1.57. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. Ziff Davis, Inc. has a one year low of $29.15 and a one year high of $60.62.

About Ziff Davis

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.