Ziff Davis, Inc. $ZD Shares Purchased by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its Ziff Davis stake by 43.6% in the first quarter, buying 51,402 additional shares and bringing its holding to 169,177 shares worth about $7.1 million.
• Wall Street sentiment on Ziff Davis is mixed: analysts currently have a consensus Hold rating with an average price target of $47.25, though some firms recently raised targets while others downgraded the stock.
• Ziff Davis reported quarterly EPS of $0.73, narrowly beating estimates, while revenue came in at $267.64 million; meanwhile, the stock recently traded near its 12-month high at $53.98 and insiders have been selling shares.

Bessemer Group Inc. boosted its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,177 shares of the technology company's stock after buying an additional 51,402 shares during the period. Bessemer Group Inc. owned 0.45% of Ziff Davis worth $7,099,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of Ziff Davis during the fourth quarter worth approximately $25,000. NBC Securities Inc. raised its position in Ziff Davis by 121.2% in 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. Hantz Financial Services Inc. boosted its stake in Ziff Davis by 212.2% during 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 during the period. GAMMA Investing LLC grew its position in Ziff Davis by 207.1% during the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company's stock worth $32,000 after purchasing an additional 611 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Ziff Davis by 226.7% in the fourth 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 period. 99.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ZD shares. Weiss Ratings upgraded shares of Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Barclays upped their price objective on Ziff Davis from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Zacks Research downgraded Ziff Davis from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. Susquehanna boosted their target price on Ziff Davis from $45.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, May 5th. Finally, Piper Sandler set a $48.00 price target on Ziff Davis in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $47.25.

Ziff Davis Stock Performance

NASDAQ ZD opened at $53.98 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The business's 50 day moving average is $47.13 and its two-hundred day moving average is $41.88. Ziff Davis, Inc. has a 12-month low of $22.45 and a 12-month high of $54.75. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 47.77 and a beta of 1.08.

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

Insider Transactions at Ziff Davis

In other news, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $47.00, for a total value of $376,000.00. Following the completion of the transaction, the executive vice president owned 14,462 shares in the company, valued at $679,714. This trade represents a 35.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bret Richter sold 18,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.88, for a total transaction of $843,840.00. Following the sale, the chief financial officer directly owned 29,244 shares in the company, valued at approximately $1,370,958.72. This represents a 38.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,422 shares of company stock valued at $1,468,864 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

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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