Ziff Davis, Inc. (NASDAQ:ZD) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury raised its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 73.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,441 shares of the technology company's stock after purchasing an additional 8,251 shares during the quarter. State of Tennessee Department of Treasury's holdings in Ziff Davis were worth $1,056,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in Ziff Davis during the 4th quarter worth about $35,000. Quadrant Capital Group LLC boosted its position in Ziff Davis by 278.9% during the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company's stock valued at $36,000 after acquiring an additional 488 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Ziff Davis in the 4th quarter worth $37,000. Wilmington Savings Fund Society FSB bought a new stake in Ziff Davis during the third quarter valued at about $37,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Ziff Davis by 42.9% during the fourth quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company's stock valued at $47,000 after buying an additional 260 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Stock Performance

Shares of NASDAQ:ZD traded down $0.18 during trading on Tuesday, hitting $31.55. The stock had a trading volume of 158,939 shares, compared to its average volume of 505,508. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. Ziff Davis, Inc. has a 12-month low of $29.15 and a 12-month high of $60.62. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 26.72 and a beta of 1.57. The stock has a 50-day simple moving average of $35.96 and a two-hundred day simple moving average of $47.53.

Insider Buying and Selling

In related news, Director Sarah Ann Fay purchased 1,282 shares of Ziff Davis stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the completion of the transaction, the director now owns 18,655 shares in the company, valued at $727,545. The trade was a 7.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Bret Richter acquired 2,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $39.21 per share, for a total transaction of $98,025.00. Following the transaction, the chief financial officer now owns 16,339 shares in the company, valued at approximately $640,652.19. This represents a 18.06 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 5,028 shares of company stock worth $198,024. 2.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup lowered their price objective 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. JPMorgan Chase & Co. lowered Ziff Davis from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Finally, UBS Group decreased their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $58.33.

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.