Bank of America Corp DE Decreases Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Bank of America Corp DE cut its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 33.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,574 shares of the technology company's stock after selling 81,928 shares during the quarter. Bank of America Corp DE owned approximately 0.38% of Ziff Davis worth $8,726,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in Ziff Davis during the fourth quarter valued at about $35,000. Quadrant Capital Group LLC lifted its stake in shares of Ziff Davis by 278.9% in the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company's stock valued at $36,000 after acquiring an additional 488 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Ziff Davis during the 4th quarter valued at about $37,000. First Horizon Advisors Inc. grew its position in Ziff Davis by 42.9% during the 4th quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company's stock worth $47,000 after acquiring an additional 260 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in Ziff Davis by 786.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,391 shares of the technology company's stock worth $76,000 after purchasing an additional 1,234 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ZD shares. Susquehanna dropped their price objective on Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered shares of Ziff Davis from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $60.00 to $33.00 in a report on Tuesday, April 22nd. UBS Group set a $40.00 price target on shares of Ziff Davis and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Barclays decreased their price objective on shares of Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. Finally, Citigroup dropped their target price 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Ziff Davis has a consensus rating of "Hold" and an average target price of $47.00.

Insider Activity at Ziff Davis

In other Ziff Davis news, Director W Brian Kretzmer acquired 653 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $38.33 per share, with a total value of $25,029.49. Following the completion of the purchase, the director now directly owns 12,968 shares of the company's stock, valued at approximately $497,063.44. The trade was a 5.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sarah Ann Fay bought 1,282 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $39.00 per share, with a total value of $49,998.00. Following the purchase, the director now directly owns 18,655 shares of the company's stock, valued at approximately $727,545. This represents a 7.38% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 5,028 shares of company stock worth $198,024 over the last ninety days. 2.16% of the stock is owned by corporate insiders.

Ziff Davis Trading Up 3.9%

ZD stock traded up $1.20 during trading on Tuesday, reaching $32.10. The company had a trading volume of 513,010 shares, compared to its average volume of 523,511. Ziff Davis, Inc. has a 52 week low of $29.15 and a 52 week high of $60.62. The business has a 50 day moving average of $33.57 and a 200 day moving average of $45.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $1.35 billion, a P/E ratio of 27.20 and a beta of 1.57.

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.