14,833 Shares in Ziff Davis, Inc. $ZD Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new stake in Ziff Davis, Inc. (NASDAQ:ZD) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 14,833 shares of the technology company’s stock, valued at approximately $622,000.

A number of other large investors have also recently added to or reduced their stakes in ZD. Invenomic Capital Management LP lifted its position in shares of Ziff Davis by 86.0% during the third quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company’s stock worth $15,562,000 after purchasing an additional 188,844 shares during the last quarter. Range Financial Group LLC acquired a new position in Ziff Davis in the fourth quarter worth about $1,297,000. Brave Asset Management Inc. increased its holdings in Ziff Davis by 11.9% in the first quarter. Brave Asset Management Inc. now owns 470,282 shares of the technology company’s stock valued at $19,733,000 after buying an additional 50,127 shares during the last quarter. LSV Asset Management increased its holdings in Ziff Davis by 17.5% in the fourth quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock valued at $31,906,000 after buying an additional 135,021 shares during the last quarter. Finally, Incline Global Management LLC raised its stake in Ziff Davis by 8.1% during the fourth quarter. Incline Global Management LLC now owns 401,933 shares of the technology company’s stock valued at $14,128,000 after buying an additional 30,212 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Stock Up 0.9%

Shares of Ziff Davis stock opened at $52.43 on Friday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 46.40 and a beta of 1.08. Ziff Davis, Inc. has a twelve month low of $22.45 and a twelve month high of $53.43. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The business’s 50 day simple moving average is $45.59 and its 200-day simple moving average is $40.56.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The firm had revenue of $267.64 million during the quarter, compared to the consensus estimate of $264.32 million. During the same period in the prior year, the business earned $1.14 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. Equities research analysts forecast that Ziff Davis, Inc. will post 4.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZD. Piper Sandler set a $48.00 target price on Ziff Davis in a research report on Monday, May 11th. Evercore reissued an “outperform” rating and set a $61.00 price target on shares of Ziff Davis in a research report on Tuesday, May 12th. Citigroup raised their price objective on Ziff Davis from $29.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Zacks Research lowered shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their target price on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.25.

Insider Activity

In other news, CFO Bret Richter sold 18,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the transaction, the chief financial officer owned 29,244 shares in the company, valued at approximately $1,370,958.72. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $47.00, for a total transaction of $376,000.00. Following the completion of the sale, the executive vice president directly owned 14,462 shares in the company, valued at approximately $679,714. This trade represents a 35.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 31,422 shares of company stock valued at $1,468,864. 3.40% of the stock is currently owned by company insiders.

Ziff Davis Company Profile

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.