Fisher Asset Management LLC Reduces Holdings in Ziff Davis, Inc. $ZD

Fisher Asset Management LLC trimmed its position in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 89.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,531 shares of the technology company’s stock after selling 89,324 shares during the period. Fisher Asset Management LLC’s holdings in Ziff Davis were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZD. Legal & General Group Plc boosted its stake in shares of Ziff Davis by 9.0% during the 2nd quarter. Legal & General Group Plc now owns 2,669,113 shares of the technology company’s stock valued at $80,794,000 after buying an additional 221,445 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Ziff Davis by 10.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,113,654 shares of the technology company’s stock worth $41,851,000 after buying an additional 105,761 shares during the period. Geode Capital Management LLC lifted its position in Ziff Davis by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,081,156 shares of the technology company’s stock valued at $32,730,000 after purchasing an additional 18,577 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Ziff Davis by 3.5% during the second quarter. Nordea Investment Management AB now owns 1,035,836 shares of the technology company’s stock valued at $31,438,000 after buying an additional 35,197 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Ziff Davis during the 1st quarter worth $25,381,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Sarah Ann Fay acquired 1,354 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were bought at an average cost of $36.89 per share, with a total value of $49,949.06. Following the completion of the acquisition, the director owned 23,619 shares of the company’s stock, valued at $871,304.91. This trade represents a 6.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Ziff Davis from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Zacks Research cut Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Friday, November 14th. Barclays cut their target price on shares of Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Citigroup lowered their price objective on shares of Ziff Davis from $42.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Finally, UBS Group cut their price objective on Ziff Davis from $40.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Ziff Davis currently has a consensus rating of “Reduce” and a consensus price target of $37.50.

Ziff Davis Stock Performance

NASDAQ ZD opened at $35.22 on Monday. Ziff Davis, Inc. has a 52-week low of $28.55 and a 52-week high of $60.04. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 13.98 and a beta of 1.47. The company’s fifty day moving average is $34.73 and its two-hundred day moving average is $34.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.61 and a quick ratio of 1.61.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $1.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.76. The firm had revenue of $363.71 million for the quarter, compared to analyst estimates of $366.44 million. Ziff Davis had a return on equity of 13.73% and a net margin of 7.62%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. Ziff Davis has set its FY 2025 guidance at 6.640-7.28 EPS. Equities research analysts forecast that Ziff Davis, Inc. will post 5.93 EPS for the current year.

Ziff Davis 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.