Allspring Global Investments Holdings LLC Acquires 181,234 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Allspring Global Investments Holdings LLC lifted its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 50.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 538,123 shares of the technology company's stock after purchasing an additional 181,234 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.25% of Ziff Davis worth $20,314,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ziff Davis by 369.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company's stock worth $23,626,000 after buying an additional 342,207 shares during the last quarter. Janus Henderson Group PLC raised its position in Ziff Davis by 8.5% in the fourth quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company's stock worth $189,512,000 after purchasing an additional 272,895 shares in the last quarter. Legal & General Group Plc lifted its stake in Ziff Davis by 12.4% during the fourth quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company's stock worth $131,826,000 after purchasing an additional 267,436 shares during the period. CDAM UK Ltd lifted its stake in Ziff Davis by 16.6% during the fourth quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company's stock worth $81,122,000 after purchasing an additional 213,071 shares during the period. Finally, Ruffer LLP acquired a new stake in Ziff Davis during the fourth quarter valued at approximately $7,946,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZD has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Ziff Davis from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $60.00 to $33.00 in a report on Tuesday, April 22nd. Susquehanna dropped their target price on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Barclays decreased their price objective on Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Ziff Davis from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Citigroup decreased their target price on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $47.00.

Ziff Davis Price Performance

ZD stock traded up $0.26 during mid-day trading on Thursday, hitting $32.81. The stock had a trading volume of 302,248 shares, compared to its average volume of 542,270. The firm has a fifty day simple moving average of $31.89 and a 200 day simple moving average of $41.25. The firm has a market capitalization of $1.38 billion, a P/E ratio of 19.74 and a beta of 1.58. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Ziff Davis, Inc. has a 52 week low of $29.15 and a 52 week high of $60.62.

Ziff Davis Company 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.