Ziff Davis (NASDAQ:ZD) Stock: Insider Vivek Shah Sells 2,650 Shares

Ziff Davis, Inc. (NASDAQ:ZD) CEO Vivek Shah sold 2,650 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $50.67, for a total transaction of $134,275.50. Following the completion of the sale, the chief executive officer directly owned 357,632 shares in the company, valued at approximately $18,121,213.44. The trade was a 0.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ziff Davis Price Performance

NASDAQ:ZD traded down $0.20 during mid-day trading on Friday, hitting $51.49. The company’s stock had a trading volume of 371,711 shares, compared to its average volume of 510,394. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 3.04 and a beta of 1.10. The company has a current ratio of 2.35, a quick ratio of 2.16 and a debt-to-equity ratio of 0.34. Ziff Davis, Inc. has a fifty-two week low of $22.45 and a fifty-two week high of $60.48. The stock has a fifty day moving average of $55.83 and a 200-day moving average of $48.00.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Thursday, November 5th. The technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. Ziff Davis had a return on equity of 9.10% and a net margin of 49.46%. The company had revenue of $289.33 million for the quarter, compared to the consensus estimate of $295.31 million. During the same period in the previous year, the business earned $1.76 earnings per share. The company’s quarterly revenue was down 20.5% on a year-over-year basis. As a group, equities analysts forecast that Ziff Davis, Inc. will post 4.41 EPS for the current fiscal year.

Institutional Trading of Ziff Davis

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pathstone Holdings LLC bought a new stake in Ziff Davis during the 3rd quarter worth about $358,000. Marshall Wace LLP increased its position in Ziff Davis by 6.0% in the 3rd quarter. Marshall Wace LLP now owns 26,638 shares of the technology company’s stock valued at $1,510,000 after acquiring an additional 1,512 shares in the last quarter. Empowered Funds LLC increased its position in Ziff Davis by 25.1% in the 3rd quarter. Empowered Funds LLC now owns 201,185 shares of the technology company’s stock valued at $11,405,000 after acquiring an additional 40,362 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Ziff Davis in the third quarter worth about $1,657,000. Finally, Public Sector Pension Investment Board raised its stake in shares of Ziff Davis by 29.0% in the third quarter. Public Sector Pension Investment Board now owns 163,237 shares of the technology company’s stock worth $9,481,000 after acquiring an additional 36,724 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Ziff Davis in a research note on Friday, September 11th. They set a “neutral” rating and a $60.00 price objective on the stock. Weiss Ratings cut shares of Ziff Davis from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Monday, November 9th. UBS Group lifted their target price on shares of Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Yorkville Ives started coverage on Ziff Davis in a report on Wednesday, October 7th. They issued an “outperform” rating and a $68.00 target price on the stock. Finally, Evercore restated an “outperform” rating and set a $64.00 price target on shares of Ziff Davis in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.33.

About Ziff Davis

Ziff Davis, Inc. is a digital media and internet company that operates a portfolio of websites, apps and online services. Its brands cover technology and shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity and marketing technology. They include PCMag, IGN, Mashable, Everyday Health and Ookla, whose services include Speedtest and Downdetector. The company serves consumers and businesses in the United States and international markets. Its activities include publishing editorial content, providing internet and software services, and offering digital advertising and marketing solutions.