Vanguard Group Inc. Sells 46,088 Shares of Ziff Davis, Inc. $ZD

Key Points

• Vanguard Group Inc. reduced its shareholding in Ziff Davis, Inc. by 0.9%, now owning 4,883,907 shares worth approximately $183.54 million.
• Several institutional investors, including GAMMA Investing LLC and PNC Financial Services Group Inc., significantly increased their stakes, with PNC raising its holdings by 75.7%.
• Ziff Davis, Inc. reported earnings per share (EPS) of $1.24, exceeding estimates, and its quarterly revenue increased by 10.0% year-over-year.

Vanguard Group Inc. lowered its holdings in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,883,907 shares of the technology company's stock after selling 46,088 shares during the period. Vanguard Group Inc. owned approximately 11.38% of Ziff Davis worth $183,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ZD. Janney Montgomery Scott LLC bought a new position in shares of Ziff Davis during the 1st quarter valued at about $736,000. GAMMA Investing LLC increased its position in shares of Ziff Davis by 148.4% during the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after purchasing an additional 426 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Ziff Davis by 19.6% during the 4th quarter. Wells Fargo & Company MN now owns 28,506 shares of the technology company's stock valued at $1,549,000 after purchasing an additional 4,670 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Ziff Davis by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company's stock valued at $7,997,000 after purchasing an additional 5,456 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Ziff Davis by 75.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,139 shares of the technology company's stock valued at $231,000 after purchasing an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Ziff Davis from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group set a $40.00 price target on Ziff Davis and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Barclays restated a "positive" rating on shares of Ziff Davis in a research report on Friday, August 8th. Piper Sandler set a $40.00 price target on Ziff Davis in a research report on Friday, August 8th. Finally, Susquehanna reduced their price target on Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.86.

Ziff Davis Trading Down 0.9%

Shares of ZD stock traded down $0.34 during trading hours on Monday, reaching $37.87. The company's stock had a trading volume of 551,007 shares, compared to its average volume of 689,567. The stock has a market capitalization of $1.55 billion, a P/E ratio of 25.25 and a beta of 1.63. Ziff Davis, Inc. has a one year low of $28.55 and a one year high of $60.62. The firm's fifty day simple moving average is $32.91 and its 200 day simple moving average is $35.49. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. The firm had revenue of $352.21 million for the quarter, compared to analyst estimates of $337.47 million. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%.The business's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. Equities research analysts expect that Ziff Davis, Inc. will post 5.93 EPS for the current year.

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.