Dimensional Fund Advisors LP Sells 25,730 Shares of Ziff Davis, Inc. $ZD

Dimensional Fund Advisors LP lessened its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 2,071,548 shares of the technology company’s stock after selling 25,730 shares during the quarter. Dimensional Fund Advisors LP owned about 0.05% of Ziff Davis worth $86,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ZD. Goldman Sachs Group Inc. raised its position in shares of Ziff Davis by 260.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock worth $21,005,000 after purchasing an additional 431,828 shares during the period. AQR Capital Management LLC grew its position in Ziff Davis by 88.5% in the 4th quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock valued at $14,034,000 after purchasing an additional 187,431 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Ziff Davis by 46.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,385 shares of the technology company’s stock valued at $21,046,000 after purchasing an additional 174,287 shares during the period. Invenomic Capital Management LP increased its stake in Ziff Davis by 36.5% during the 4th quarter. Invenomic Capital Management LP now owns 557,613 shares of the technology company’s stock valued at $19,600,000 after purchasing an additional 149,164 shares in the last quarter. Finally, LSV Asset Management increased its stake in Ziff Davis by 17.5% during the 4th quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock valued at $31,906,000 after purchasing an additional 135,021 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZD has been the topic of several recent research reports. Zacks Research cut shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Piper Sandler set a $48.00 price objective on Ziff Davis in a research note on Monday, May 11th. Royal Bank Of Canada raised their target price on Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Evercore restated an “outperform” rating and issued a $61.00 target price on shares of Ziff Davis in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ziff Davis currently has an average rating of “Hold” and a consensus price target of $47.25.

Ziff Davis Stock Down 3.1%

ZD opened at $52.61 on Friday. The company has a 50 day moving average of $49.19 and a 200 day moving average of $43.02. The company has a market cap of $1.94 billion, a PE ratio of 46.56 and a beta of 1.08. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $54.97. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42.

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

Insider Activity at Ziff Davis

In other news, EVP Jeremy Rossen sold 8,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $47.00, for a total transaction of $376,000.00. Following the sale, the executive vice president owned 14,462 shares in the company, valued at approximately $679,714. This trade represents a 35.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kirk P. Mcdonald sold 1,075 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the sale, the director owned 13,468 shares in the company, valued at $628,282.20. The trade was a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,422 shares of company stock valued at $1,468,864 over the last three months. 3.40% of the stock is owned by corporate 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.