Blueshift Asset Management LLC Invests $552,000 in Ziff Davis, Inc. (NASDAQ:ZD)

Key Points

• Blueshift Asset Management LLC acquired 14,689 shares of Ziff Davis, Inc., totaling approximately $552,000 in the first quarter.
• Ziff Davis has seen significant interest from institutional investors, with holdings increasing by 8.5% to 21.9% across various firms during the fourth quarter.
• Wall Street analysts have expressed mixed views, with an average target price of $47.00, and ratings spanning from "buy" to "hold."

Blueshift Asset Management LLC purchased a new position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,689 shares of the technology company's stock, valued at approximately $552,000.

A number of other hedge funds also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its stake in Ziff Davis by 369.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company's stock valued at $23,626,000 after buying an additional 342,207 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Ziff Davis by 8.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company's stock valued at $189,512,000 after purchasing an additional 272,895 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Ziff Davis by 12.4% during the fourth quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company's stock valued at $131,826,000 after purchasing an additional 267,436 shares in the last quarter. CDAM UK Ltd boosted its stake in shares of Ziff Davis by 16.6% during the fourth quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company's stock valued at $81,122,000 after purchasing an additional 213,071 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Ziff Davis by 50.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 538,123 shares of the technology company's stock valued at $20,314,000 after purchasing an additional 181,234 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Ziff Davis Stock Performance

Ziff Davis stock traded up $1.13 during mid-day trading on Wednesday, reaching $30.94. 724,014 shares of the stock traded hands, compared to its average volume of 532,955. The stock has a market capitalization of $1.30 billion, a PE ratio of 18.75 and a beta of 1.63. 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, Inc. has a 12-month low of $28.55 and a 12-month high of $60.62. The business's 50-day moving average is $31.88 and its 200-day moving average is $37.33.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZD. Barclays lowered their target price on Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Wall Street Zen downgraded Ziff Davis from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Citigroup dropped their price objective on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut Ziff Davis from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $60.00 to $33.00 in a report on Tuesday, April 22nd. Finally, Susquehanna decreased 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. Five 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, Ziff Davis presently has a consensus rating of "Hold" and an average price target of $47.00.

About Ziff Davis

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.