Allianz Asset Management GmbH Purchases 42,645 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Key Points

• Allianz Asset Management GmbH increased its holdings in Ziff Davis, Inc. by 30.5%, owning approximately 182,312 shares worth $6.85 million at the end of the first quarter of 2023.
• Over 99% of Ziff Davis stock is currently owned by institutional investors, indicating strong interest from larger financial firms.
• Recent analyst ratings show a downward trend, with price targets being reduced by institutions like Barclays and Citigroup, reflecting a cautious outlook on the stock.

Allianz Asset Management GmbH increased its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 30.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,312 shares of the technology company's stock after acquiring an additional 42,645 shares during the period. Allianz Asset Management GmbH owned about 0.42% of Ziff Davis worth $6,851,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ziff Davis by 0.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,112 shares of the technology company's stock valued at $1,365,000 after purchasing an additional 216 shares during the period. Gotham Asset Management LLC lifted its position in Ziff Davis by 3.6% during the fourth quarter. Gotham Asset Management LLC now owns 7,802 shares of the technology company's stock valued at $424,000 after acquiring an additional 271 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ziff Davis by 148.4% in the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock worth $27,000 after acquiring an additional 426 shares during the period. Quadrant Capital Group LLC boosted its holdings in Ziff Davis by 278.9% during the fourth quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company's stock worth $36,000 after buying an additional 488 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC lifted its stake in shares of Ziff Davis by 10.9% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,369 shares of the technology company's stock worth $292,000 after buying an additional 527 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Stock Down 1.8%

ZD stock traded down $0.58 during midday trading on Thursday, hitting $30.52. The company's stock had a trading volume of 70,390 shares, compared to its average volume of 527,298. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.28 billion, a PE ratio of 18.49 and a beta of 1.58. Ziff Davis, Inc. has a 12 month low of $29.15 and a 12 month high of $60.62. The firm's 50-day moving average is $31.96 and its 200-day moving average is $38.08.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ZD shares. Susquehanna lowered their price target on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a report on Monday, May 12th. Barclays decreased their price target on shares of Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. downgraded shares of Ziff Davis from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $60.00 to $33.00 in a research report on Tuesday, April 22nd. Citigroup reduced their price objective on shares of Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Finally, Wall Street Zen cut Ziff Davis from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $47.00.

Ziff Davis Profile

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.