Jupiter Topco LLC Invests $187.89 Million in Ziff Davis, Inc. $ZD

Key Points

• Jupiter Topco LLC acquired 3.59 million Ziff Davis shares worth approximately $187.9 million, giving it a 10.46% stake. Institutional investors collectively own 99.76% of the company.
• Analyst opinions remain mixed: Ziff Davis has a consensus “Hold” rating and an average price target of $56.62, although RBC and Susquehanna recently raised their targets to $65 and $75, respectively.
• Ziff Davis beat quarterly earnings expectations with EPS of $1.03 versus $0.81 forecast, but revenue fell 18.7% year over year to $286.74 million. The stock opened at $55.61, near its 52-week high of $58.06.

Jupiter Topco LLC purchased a new position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,587,806 shares of the technology company's stock, valued at approximately $187,893,000. Jupiter Topco LLC owned about 10.46% of Ziff Davis as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Ziff Davis in the fourth quarter worth $25,000. Allworth Financial LP purchased a new position in shares of Ziff Davis in the 2nd quarter worth about $44,000. Hantz Financial Services Inc. boosted 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 worth $31,000 after purchasing an additional 590 shares in the last quarter. NBC Securities Inc. grew 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 valued at $31,000 after purchasing an additional 485 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Ziff Davis by 226.7% during 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. Hedge funds and other institutional investors own 99.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Ziff Davis from $48.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, August 10th. UBS Group boosted their price target on Ziff Davis from $30.00 to $59.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 12th. Piper Sandler set a $48.00 price objective on Ziff Davis in a report on Monday, May 11th. Zacks Research lowered shares of Ziff Davis from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. Finally, Susquehanna boosted their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the company a "positive" rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $56.62.

Insider Activity

In related news, CAO Lori A. Tansley sold 1,400 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total value of $76,664.00. Following the sale, the chief accounting officer owned 767 shares in the company, valued at approximately $42,000.92. The trade was a 64.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director W Brian Kretzmer sold 2,513 shares of Ziff Davis 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 of the company's stock, valued at $1,106,200. The trade was a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 34,807 shares of company stock valued at $1,695,424. 3.40% of the stock is owned by corporate insiders.

Ziff Davis Stock Up 0.4%

ZD opened at $55.61 on Thursday. The firm's fifty day moving average is $52.63 and its 200 day moving average is $45.30. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 3.15 and a beta of 1.08. Ziff Davis, Inc. has a fifty-two week low of $22.45 and a fifty-two week high of $58.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16.

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

About Ziff Davis

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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