Ziff Davis (NASDAQ:ZD) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Ziff Davis shares moved above their 200-day moving average, reaching $59.29 before closing at $57.15, compared with the average of $50.47.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $59.75; recent targets ranged from $59 to $60.
• The company beat quarterly earnings expectations, reporting $1.03 in EPS versus $0.81 expected, but revenue fell 18.7% year over year. Insiders have sold 7,732 shares worth about $425,000 over the past quarter.

Shares of Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $50.47 and traded as high as $59.29. Ziff Davis shares last traded at $57.15, with a volume of 608,024 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on ZD shares. Citigroup boosted their target price on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. UBS Group upped their target price on shares of Ziff Davis from $30.00 to $59.00 and gave the company a "neutral" rating in a research report on Wednesday, August 12th. Zacks Research raised shares of Ziff Davis to a "hold" rating in a report on Tuesday, September 15th. Weiss Ratings raised shares of Ziff Davis from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. began coverage on Ziff Davis in a research report on Friday, September 11th. They issued a "neutral" rating and a $60.00 price target for the company. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $59.75.

Ziff Davis Trading Down 2.2%

The stock has a market cap of $1.96 billion, a P/E ratio of 3.23 and a beta of 1.11. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $56.17 and a two-hundred day moving average price of $50.47.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. The company had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%. Ziff Davis's quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. On average, research analysts expect that Ziff Davis, Inc. will post 4.26 EPS for the current fiscal year.

Insider Activity

In other news, Director W. Brian Kretzmer sold 2,513 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total value of $138,994.03. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $1,106,200. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori Tansley sold 1,400 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $54.76, for a total transaction of $76,664.00. Following the completion of the sale, the chief accounting officer owned 767 shares of the company's stock, valued at $42,000.92. This trade represents a 64.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 7,732 shares of company stock valued at $425,436. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Ziff Davis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of Ziff Davis during the third quarter valued at approximately $1,147,000. Insight Wealth Strategies LLC purchased a new stake in shares of Ziff Davis in the third quarter worth approximately $5,815,000. QRG Capital Management Inc. lifted its stake in shares of Ziff Davis by 5.2% during the 2nd quarter. QRG Capital Management Inc. now owns 6,358 shares of the technology company's stock worth $333,000 after acquiring an additional 316 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Ziff Davis during the 2nd quarter worth approximately $228,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Ziff Davis during the 2nd quarter valued at $58,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

About Ziff Davis

Ziff Davis, Inc NASDAQ: ZD is a digital media and technology company that creates content, services and online experiences for consumers and businesses. Its portfolio spans technology, gaming and entertainment, shopping, health and wellness, and cybersecurity and marketing technology.

The company operates a range of digital brands and platforms, including IGN, PCMag, Mashable, Lifehacker, RetailMeNot, Ookla, Spiceworks and Humble Bundle. Its offerings include editorial content and reviews, consumer purchase guidance, gaming and entertainment coverage, internet-performance testing, software and data services, and business-to-business marketing solutions.

Ziff Davis traces its origins to the magazine publisher founded in 1927 by William Bernard Ziff and Bernard G.

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