102,570 Shares in Ziff Davis, Inc. $ZD Acquired by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies acquired 102,570 Ziff Davis shares worth approximately $5.8 million, while institutional investors collectively owned 99.76% of the company.
• Analysts remain cautious: Ziff Davis has a consensus “Hold” rating and an average price target of $59.75, despite some brokerages raising their targets.
• Ziff Davis shares traded at $56.30, near their 52-week high, after the company exceeded quarterly EPS estimates; however, revenue fell 18.7% year over year, and insiders have recently sold shares.

Insight Wealth Strategies LLC bought a new position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 102,570 shares of the technology company's stock, valued at approximately $5,815,000. Insight Wealth Strategies LLC owned approximately 0.30% of Ziff Davis at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased 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 worth $35,000 after purchasing an additional 687 shares during the period. Allworth Financial LP purchased a new position in Ziff Davis during the second quarter worth about $44,000. Integrated Wealth Concepts LLC purchased a new position in Ziff Davis during the second quarter worth about $58,000. Nykredit A S bought a new position in Ziff Davis in the 2nd quarter worth about $68,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Ziff Davis by 17.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company's stock valued at $92,000 after acquiring an additional 319 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZD. Royal Bank Of Canada lifted their price target on Ziff Davis from $48.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Citigroup raised their price objective on Ziff Davis from $48.00 to $59.00 and gave the company a "neutral" rating in a report on Monday, August 10th. JPMorgan Chase & Co. initiated coverage on shares of Ziff Davis in a research note on Friday, September 11th. They issued a "neutral" rating and a $60.00 price target for the company. Weiss Ratings upgraded Ziff Davis from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Finally, Zacks Research upgraded Ziff Davis to a "hold" rating in a research report on Tuesday, September 15th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $59.75.

Ziff Davis Trading Up 0.7%

Shares of Ziff Davis stock traded up $0.39 during trading on Friday, reaching $56.30. 83,765 shares of the stock were exchanged, compared to its average volume of 758,911. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 3.19 and a beta of 1.11. Ziff Davis, Inc. has a 1 year low of $22.45 and a 1 year high of $60.48. The stock's fifty day moving average is $55.67 and its 200 day moving average is $49.92.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The company had revenue of $286.74 million for the quarter, compared to the consensus estimate of $286.10 million. During the same quarter in the previous year, the business earned $1.24 EPS. Ziff Davis's revenue was down 18.7% compared to the same quarter last year. As a group, equities research analysts expect that Ziff Davis, Inc. will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeremy Rossen sold 3,819 shares of Ziff Davis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $54.93, for a total value of $209,777.67. Following the sale, the executive vice president owned 10,643 shares in the company, valued at $584,619.99. The trade was a 26.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director W. Brian Kretzmer sold 2,513 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total transaction of $138,994.03. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,106,200. The trade was a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,732 shares of company stock valued at $425,436. Company insiders own 3.40% of the company's stock.

About Ziff Davis

Ziff Davis, Inc NASDAQ: ZD is a digital media and technology company that creates content, services and online experiences for consumers and businesses. Its portfolio spans technology, gaming and entertainment, shopping, health and wellness, and cybersecurity and marketing technology.

The company operates a range of digital brands and platforms, including IGN, PCMag, Mashable, Lifehacker, RetailMeNot, Ookla, Spiceworks and Humble Bundle. Its offerings include editorial content and reviews, consumer purchase guidance, gaming and entertainment coverage, internet-performance testing, software and data services, and business-to-business marketing solutions.

Ziff Davis traces its origins to the magazine publisher founded in 1927 by William Bernard Ziff and Bernard G.

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