Assenagon Asset Management S.A. Sells 248,550 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Assenagon Asset Management S.A. decreased its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 95.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,208 shares of the technology company's stock after selling 248,550 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Ziff Davis were worth $421,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Ziff Davis by 369.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company's stock valued at $23,626,000 after acquiring an additional 342,207 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Ziff Davis by 8.5% during the 4th quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company's stock worth $189,512,000 after acquiring an additional 272,895 shares during the last quarter. Legal & General Group Plc boosted its holdings in Ziff Davis by 12.4% during the 4th quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company's stock worth $131,826,000 after acquiring an additional 267,436 shares during the last quarter. CDAM UK Ltd boosted its holdings in Ziff Davis by 16.6% during the 4th quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company's stock worth $81,122,000 after acquiring an additional 213,071 shares during the last quarter. Finally, Ruffer LLP purchased a new position in Ziff Davis during the 4th quarter worth $7,946,000. Institutional investors own 99.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup cut their price objective 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. Susquehanna lowered their target price on Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Barclays lowered their target price on 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. cut Ziff Davis from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Finally, UBS Group set a $40.00 target price on Ziff Davis and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ziff Davis presently has a consensus rating of "Hold" and a consensus target price of $47.00.

Ziff Davis Price Performance

Shares of ZD traded up $0.18 during midday trading on Monday, hitting $31.61. 449,191 shares of the company traded hands, compared to its average volume of 533,752. The stock has a 50-day moving average of $31.80 and a 200-day moving average of $42.35. Ziff Davis, Inc. has a one year low of $29.15 and a one year high of $60.62. The firm has a market cap of $1.33 billion, a P/E ratio of 19.16 and a beta of 1.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.52 and a quick ratio of 1.52.

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.