Deutsche Bank AG Acquires Shares of 41,245 Ziff Davis, Inc. $ZD

Key Points

• Deutsche Bank acquired 41,245 Ziff Davis shares worth approximately $2.16 million, giving it a 0.11% stake. Institutional investors collectively own 99.76% of the company.
• Ziff Davis beat quarterly earnings expectations, reporting $1.03 in EPS versus the $0.81 consensus and $286.74 million in revenue, although revenue declined 18.7% year over year.
• Shares opened at $55.82, near the analyst consensus target of $56.62. The stock carries a consensus “Hold” rating, while insiders have sold 34,807 shares worth about $1.70 million over the past 90 days.

Deutsche Bank AG bought a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,245 shares of the technology company's stock, valued at approximately $2,160,000. Deutsche Bank AG owned about 0.11% of Ziff Davis at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ZD. Federated Hermes Inc. purchased a new stake in Ziff Davis during the fourth quarter worth about $25,000. NBC Securities Inc. grew its position in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock valued at $31,000 after acquiring an additional 485 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Ziff Davis by 212.2% during the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock worth $31,000 after purchasing an additional 590 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock worth $35,000 after purchasing an additional 687 shares during the last quarter. Finally, TD Private Client Wealth LLC bought a new stake in shares of Ziff Davis in the 4th quarter worth approximately $52,000. 99.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Bret Richter sold 18,000 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the transaction, the chief financial officer directly owned 29,244 shares in the company, valued at $1,370,958.72. The trade was a 38.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director W Brian Kretzmer sold 2,513 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total transaction of $138,994.03. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,106,200. The trade was a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 34,807 shares of company stock worth $1,695,424. Company insiders own 3.40% of the company's stock.

Ziff Davis Stock Up 0.4%

Shares of NASDAQ ZD opened at $55.82 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.91 billion, a P/E ratio of 3.16 and a beta of 1.08. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $58.06. The business has a 50-day simple moving average of $52.83 and a two-hundred day simple moving average of $45.46.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The firm had revenue of $286.74 million for the quarter, compared to the consensus estimate of $286.10 million. During the same period in the prior year, the firm posted $1.24 earnings per share. The company's revenue for the quarter was down 18.7% on a year-over-year basis.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler set a $48.00 target price on Ziff Davis in a research report on Monday, May 11th. Weiss Ratings upgraded Ziff Davis from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. Barclays boosted their price objective on Ziff Davis from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Zacks Research downgraded shares of Ziff Davis from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their target price on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ziff Davis has a consensus rating of "Hold" and a consensus price target of $56.62.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis's flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.

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