Legal & General Group Plc Raises Stock Position in Ziff Davis, Inc. (NASDAQ:ZD)

Legal & General Group Plc boosted its position in Ziff Davis, Inc. (NASDAQ:ZD) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,425,947 shares of the technology company’s stock after purchasing an additional 267,436 shares during the quarter. Legal & General Group Plc owned about 5.68% of Ziff Davis worth $131,826,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZD. Franklin Resources Inc. acquired a new stake in Ziff Davis in the 3rd quarter valued at about $986,000. Virtu Financial LLC purchased a new stake in shares of Ziff Davis in the third quarter valued at approximately $503,000. Principal Financial Group Inc. increased its holdings in shares of Ziff Davis by 36.4% in the third quarter. Principal Financial Group Inc. now owns 210,989 shares of the technology company’s stock valued at $10,267,000 after purchasing an additional 56,352 shares during the last quarter. Brave Asset Management Inc. lifted its position in Ziff Davis by 3.9% during the fourth quarter. Brave Asset Management Inc. now owns 363,527 shares of the technology company’s stock worth $19,754,000 after buying an additional 13,659 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Ziff Davis by 19.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 350,604 shares of the technology company’s stock worth $19,052,000 after buying an additional 57,830 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup cut their target price on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. UBS Group cut 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ziff Davis presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.67.

Ziff Davis Stock Down 8.5 %

Shares of ZD opened at $32.11 on Friday. The company’s 50-day moving average price is $42.91 and its 200 day moving average price is $49.31. Ziff Davis, Inc. has a 12-month low of $30.63 and a 12-month high of $60.62. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.38 billion, a P/E ratio of 27.21 and a beta of 1.47.

Insider Activity

In other Ziff Davis news, Director Sarah Ann Fay acquired 1,282 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $39.00 per share, with a total value of $49,998.00. Following the completion of the purchase, the director now owns 18,655 shares in the company, valued at $727,545. This trade represents a 7.38 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Brian Kretzmer acquired 653 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $38.33 per share, with a total value of $25,029.49. Following the acquisition, the director now directly owns 12,968 shares of the company’s stock, valued at approximately $497,063.44. This represents a 5.30 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 5,028 shares of company stock valued at $198,024. Company insiders own 2.08% 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.