Empowered Funds LLC Has $6.54 Million Holdings in Ziff Davis, Inc. $ZD

Key Points

• Empowered Funds LLC cut its Ziff Davis stake by 25.6% in the first quarter, selling 53,705 shares and retaining 155,824 shares worth approximately $6.54 million. Institutional investors collectively own 99.76% of the company.
• Analysts raised several price targets, including Susquehanna’s increase to $60, while the overall consensus rating remains “Hold” with a $47.25 price target.
• Ziff Davis reported quarterly EPS of $0.73, narrowly beating estimates, and revenue of $267.64 million, though revenue declined 1.9% year over year. Insiders sold 31,422 shares worth about $1.47 million during the quarter.

Empowered Funds LLC lessened its holdings in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,824 shares of the technology company's stock after selling 53,705 shares during the period. Empowered Funds LLC owned about 0.42% of Ziff Davis worth $6,538,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in shares of Ziff Davis in the 4th quarter valued at approximately $25,000. NBC Securities Inc. increased its position in Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock worth $31,000 after purchasing an additional 485 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock valued at $31,000 after purchasing an additional 590 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Ziff Davis by 226.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock valued at $35,000 after purchasing an additional 687 shares during the last quarter. Finally, TD Private Client Wealth LLC acquired a new stake in Ziff Davis in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 99.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ZD. Susquehanna boosted their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, May 5th. Royal Bank Of Canada increased their price target on Ziff Davis from $40.00 to $48.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Piper Sandler set a $48.00 price objective on Ziff Davis in a report on Monday, May 11th. Barclays boosted their price objective on Ziff Davis from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 1st. 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $47.25.

Insider Activity

In other news, EVP Jeremy Rossen sold 8,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $47.00, for a total transaction of $376,000.00. Following the completion of the transaction, the executive vice president directly owned 14,462 shares in the company, valued at $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of the transaction, the director directly owned 13,468 shares in the company, valued at approximately $628,282.20. This represents a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 31,422 shares of company stock valued at $1,468,864. Company insiders own 3.40% of the company's stock.

Ziff Davis Stock Performance

NASDAQ ZD opened at $53.08 on Friday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 46.97 and a beta of 1.08. Ziff Davis, Inc. has a twelve month low of $22.45 and a twelve month high of $54.97. The stock has a fifty day simple moving average of $49.37 and a 200 day simple moving average of $43.09. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $267.64 million during the quarter, compared to analyst estimates of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.Ziff Davis's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS.

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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