Bank of America Corp DE Sells 81,928 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Bank of America Corp DE reduced its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 33.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 160,574 shares of the technology company's stock after selling 81,928 shares during the period. Bank of America Corp DE owned about 0.38% of Ziff Davis worth $8,726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ZD. Pacer Advisors Inc. raised its position in Ziff Davis by 100,954.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,221 shares of the technology company's stock worth $68,861,000 after purchasing an additional 1,265,967 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ziff Davis by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 757,944 shares of the technology company's stock worth $41,187,000 after acquiring an additional 62,402 shares in the last quarter. Choreo LLC boosted its stake in Ziff Davis by 28.8% during the fourth quarter. Choreo LLC now owns 10,369 shares of the technology company's stock worth $566,000 after acquiring an additional 2,318 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Ziff Davis in the fourth quarter worth about $3,078,000. Finally, Wells Fargo & Company MN raised its holdings in Ziff Davis by 19.6% in the fourth quarter. Wells Fargo & Company MN now owns 28,506 shares of the technology company's stock worth $1,549,000 after buying an additional 4,670 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director W Brian Kretzmer purchased 653 shares of the business's stock in a transaction on Thursday, March 6th. The shares were bought 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 in the company, valued at approximately $497,063.44. This trade represents a 5.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bret Richter acquired 2,500 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $39.21 per share, with a total value of $98,025.00. Following the transaction, the chief financial officer now directly owns 16,339 shares of the company's stock, valued at approximately $640,652.19. This represents a 18.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 4,435 shares of company stock worth $173,052 in the last ninety days. 2.16% of the stock is owned by corporate insiders.

Ziff Davis Price Performance

NASDAQ ZD traded up $0.30 during trading hours on Thursday, hitting $32.13. 456,339 shares of the company's stock traded hands, compared to its average volume of 525,639. Ziff Davis, Inc. has a 52-week low of $29.15 and a 52-week high of $60.62. The company has a market capitalization of $1.35 billion, a PE ratio of 27.23 and a beta of 1.57. 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 firm's 50-day moving average is $32.96 and its 200-day moving average is $45.53.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZD shares. UBS Group set a $40.00 price objective on shares of Ziff Davis and gave the company a "neutral" rating in a report on Wednesday, May 14th. Susquehanna cut their price target 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. Barclays cut their price objective on Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. downgraded 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. Finally, Citigroup dropped their price target on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, 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.