Jeremy Rossen Sells 3,819 Shares of Ziff Davis (NASDAQ:ZD) Stock

Ziff Davis, Inc. (NASDAQ:ZD) EVP Jeremy Rossen sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $54.93, for a total value of $209,777.67. Following the sale, the executive vice president owned 10,643 shares in the company, valued at approximately $584,619.99. This represents a 26.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Jeremy Rossen also recently made the following trade(s):

• On Friday, June 5th, Jeremy Rossen sold 8,000 shares of Ziff Davis stock. The shares were sold at an average price of $47.00, for a total value of $376,000.00.
• On Thursday, May 28th, Jeremy Rossen sold 4,347 shares of Ziff Davis stock. The stock was sold at an average price of $45.75, for a total value of $198,875.25.

Ziff Davis Stock Performance

Ziff Davis stock traded down $0.82 on Tuesday, hitting $53.49. The company’s stock had a trading volume of 684,173 shares, compared to its average volume of 803,156. The firm has a market cap of $1.97 billion, a P/E ratio of 3.03 and a beta of 1.08. The company has a quick ratio of 1.66, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $50.39 and a 200-day moving average price of $43.82. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $58.06.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $286.10 million. During the same quarter in the prior year, the company posted $1.24 EPS. The business’s revenue was down 18.7% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZD. Pale Fire Capital SE lifted its position in Ziff Davis by 130.0% during the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after buying an additional 1,573,414 shares in the last quarter. First Trust Advisors LP increased its position in Ziff Davis by 689.6% in the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock valued at $40,894,000 after acquiring an additional 851,163 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Ziff Davis in the second quarter worth about $43,022,000. Goldman Sachs Group Inc. raised its stake in shares of Ziff Davis by 260.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock worth $21,005,000 after acquiring an additional 431,828 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Ziff Davis during the second quarter worth approximately $16,361,000. 99.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research cut shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Barclays raised their target price on Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Piper Sandler set a $48.00 price target on Ziff Davis in a research note on Monday, May 11th. Finally, Susquehanna upped their price target on Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $53.00.

About Ziff Davis

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.