Ziff Davis (NASDAQ:ZD) Cut to "Neutral" at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Ziff Davis (NASDAQ:ZD - Free Report) from an overweight rating to a neutral rating in a research report report published on Tuesday, MarketBeat reports. The brokerage currently has $33.00 price target on the technology company's stock, down from their prior price target of $60.00.

Several other equities analysts have also commented on the company. Citigroup lowered their target price on Ziff Davis from $58.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. UBS Group dropped their target price on Ziff Davis from $65.00 to $56.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Ziff Davis currently has an average rating of "Hold" and an average target price of $58.33.

Ziff Davis Stock Performance

Shares of NASDAQ ZD traded down $0.12 during midday trading on Tuesday, hitting $30.95. The company's stock had a trading volume of 430,264 shares, compared to its average volume of 508,872. The firm has a market cap of $1.33 billion, a P/E ratio of 26.23 and a beta of 1.47. Ziff Davis has a 1-year low of $29.34 and a 1-year high of $60.62. The firm's fifty day moving average price is $38.02 and its 200-day moving average price is $48.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42.

Insider Buying and Selling at Ziff Davis

In other news, CFO Bret Richter bought 2,500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $39.21 per share, with a total value of $98,025.00. Following the completion of the acquisition, the chief financial officer now directly owns 16,339 shares in the company, valued at approximately $640,652.19. This trade represents a 18.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Ann Fay bought 1,282 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $39.00 per share, with a total value of $49,998.00. Following the completion of the transaction, the director now directly owns 18,655 shares of the company's stock, valued at $727,545. This trade represents a 7.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 5,028 shares of company stock valued at $198,024 in the last quarter. Corporate insiders own 2.16% of the company's stock.

Institutional Trading of Ziff Davis

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in Ziff Davis by 100,954.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,221 shares of the technology company's stock worth $68,861,000 after acquiring an additional 1,265,967 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Ziff Davis by 369.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company's stock worth $23,626,000 after purchasing an additional 342,207 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Ziff Davis by 8.5% in the 4th 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 valued at $131,826,000 after purchasing an additional 267,436 shares during the last quarter. Finally, CDAM UK Ltd boosted its holdings 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 buying an additional 213,071 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

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.