Victory Capital Management Inc. Buys 120,817 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Key Points

• Victory Capital Management Inc. increased its stake in Ziff Davis, Inc. by 236.8%, purchasing an additional 120,817 shares, bringing its total ownership to approximately 171,833 shares valued at about $6.46 million.
• Several institutional investors have also boosted their holdings in Ziff Davis, with 99.76% of the stock currently owned by institutional investors.
• Analysts have set price targets for Ziff Davis shares, with estimates ranging from $33.00 to $47.00, and the current average rating standing at a "Hold."

Victory Capital Management Inc. increased its stake in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 236.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,833 shares of the technology company's stock after purchasing an additional 120,817 shares during the period. Victory Capital Management Inc. owned approximately 0.40% of Ziff Davis worth $6,457,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Rice Hall James & Associates LLC boosted its stake in Ziff Davis by 21.9% in the first quarter. Rice Hall James & Associates LLC now owns 601,573 shares of the technology company's stock worth $22,607,000 after buying an additional 108,101 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Ziff Davis by 13.0% in the first quarter. Envestnet Asset Management Inc. now owns 13,450 shares of the technology company's stock worth $505,000 after buying an additional 1,552 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ziff Davis by 2.6% in the first quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company's stock worth $7,997,000 after buying an additional 5,456 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Ziff Davis by 50.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 538,123 shares of the technology company's stock worth $20,314,000 after buying an additional 181,234 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its stake in Ziff Davis by 9.6% in the first quarter. Hunter Perkins Capital Management LLC now owns 16,275 shares of the technology company's stock worth $612,000 after buying an additional 1,420 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ZD shares. UBS Group set a $40.00 price objective on Ziff Davis and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Barclays dropped their price objective on Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered Ziff Davis from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Susquehanna dropped their price objective on Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Finally, Wall Street Zen lowered Ziff Davis from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $47.00.

Ziff Davis Trading Up 1.1%

Ziff Davis stock opened at $32.78 on Friday. 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 one year low of $29.15 and a one year high of $60.62. The stock has a market capitalization of $1.38 billion, a PE ratio of 19.87 and a beta of 1.58. The business's fifty day moving average is $31.98 and its 200 day moving average is $38.64.

Ziff Davis Profile

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.

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