Legal & General Group Plc Invests $94.31 Million in Ziff Davis, Inc. $ZD

Legal & General Group Plc bought a new stake in Ziff Davis, Inc. (NASDAQ:ZD) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,800,921 shares of the technology company’s stock, valued at approximately $94,314,000. Legal & General Group Plc owned about 0.05% of Ziff Davis at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in Ziff Davis by 2.7% in the first quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company’s stock valued at $147,963,000 after purchasing an additional 92,496 shares during the last quarter. Pale Fire Capital SE grew its holdings in shares of Ziff Davis by 130.0% in the first quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after purchasing an additional 1,573,414 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Ziff Davis by 689.6% in the first quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after buying an additional 851,163 shares during the period. LSV Asset Management raised its holdings 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 buying an additional 135,021 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Ziff Davis by 10.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 860,582 shares of the technology company’s stock valued at $30,249,000 after buying an additional 82,761 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays raised their price target on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Evercore reiterated an “outperform” rating and set a $64.00 target price on shares of Ziff Davis in a report on Monday, August 10th. UBS Group raised their target price on Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Susquehanna boosted their price target on Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada upped their price target on Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.62.

Insiders Place Their Bets

In other Ziff Davis news, Director Kirk P. Mcdonald sold 1,075 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the completion of the transaction, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lori A. Tansley sold 1,400 shares of Ziff Davis stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total transaction of $76,664.00. Following the transaction, the chief accounting officer owned 767 shares of the company’s stock, valued at $42,000.92. The trade was a 64.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 34,807 shares of company stock valued at $1,695,424. Insiders own 3.40% of the company’s stock.

Ziff Davis Stock Performance

Shares of ZD stock opened at $55.82 on Friday. The company’s fifty day moving average price is $52.83 and its 200-day moving average price is $45.46. The stock has a market cap of $1.91 billion, a PE ratio of 3.16 and a beta of 1.08. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $58.06.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The company had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same period last year, the business earned $1.24 EPS. Ziff Davis’s quarterly revenue was down 18.7% compared to the same quarter last year.

Ziff Davis 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.