Invesco Ltd. Decreases Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Invesco Ltd. cut its stake in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 56.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,618 shares of the technology company's stock after selling 216,049 shares during the period. Invesco Ltd. owned 0.39% of Ziff Davis worth $9,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in shares of Ziff Davis during the 4th quarter valued at about $35,000. Quadrant Capital Group LLC grew its position in shares of 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 during the period. Summit Securities Group LLC acquired a new stake in shares of Ziff Davis during the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ziff Davis during the 3rd quarter valued at about $37,000. Finally, First Horizon Advisors Inc. boosted its holdings in Ziff Davis by 42.9% in the 4th quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company's stock worth $47,000 after buying an additional 260 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ziff Davis

In other news, CFO Bret Richter purchased 2,500 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $39.21 per share, with a total value of $98,025.00. Following the completion of the transaction, the chief financial officer now directly owns 16,339 shares in the company, valued at approximately $640,652.19. This represents a 18.06 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Brian Kretzmer bought 653 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $38.33 per share, for a total transaction of $25,029.49. Following the completion of the purchase, the director now directly owns 12,968 shares in the company, valued at approximately $497,063.44. The trade was a 5.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 5,028 shares of company stock valued at $198,024 in the last quarter. Corporate insiders own 2.16% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut Ziff Davis from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $60.00 to $33.00 in a report on Tuesday, April 22nd. UBS Group lowered their price objective on Ziff Davis from $65.00 to $56.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup lowered their price objective on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ziff Davis presently has a consensus rating of "Hold" and an average target price of $58.33.

Ziff Davis Stock Down 0.7 %

ZD stock traded down $0.22 during mid-day trading on Tuesday, reaching $30.64. The company had a trading volume of 26,342 shares, compared to its average volume of 507,322. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 25.93 and a beta of 1.47. The firm has a fifty day simple moving average of $37.61 and a 200 day simple moving average of $48.08. Ziff Davis, Inc. has a fifty-two week low of $29.34 and a fifty-two week high of $60.62.

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.