Geode Capital Management LLC Sells 190,012 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Geode Capital Management LLC lessened its position in Ziff Davis, Inc. (NASDAQ:ZD) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,084,750 shares of the technology company’s stock after selling 190,012 shares during the quarter. Geode Capital Management LLC owned about 2.54% of Ziff Davis worth $58,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZD. Franklin Resources Inc. increased its stake in shares of Ziff Davis by 52.2% in the fourth quarter. Franklin Resources Inc. now owns 32,819 shares of the technology company’s stock worth $1,783,000 after purchasing an additional 11,263 shares during the period. Wellington Management Group LLP increased its position in Ziff Davis by 34.2% in the 4th quarter. Wellington Management Group LLP now owns 443,707 shares of the technology company’s stock worth $24,111,000 after buying an additional 113,157 shares during the period. Summit Securities Group LLC acquired a new position in shares of Ziff Davis during the fourth quarter worth approximately $37,000. Schroder Investment Management Group bought a new stake in shares of Ziff Davis in the fourth quarter valued at approximately $3,115,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Ziff Davis by 369.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company’s stock worth $23,626,000 after acquiring an additional 342,207 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Insider Buying and Selling at Ziff Davis

In other news, CFO Bret Richter bought 2,500 shares of Ziff Davis stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $39.21 per share, for a total transaction of $98,025.00. Following the purchase, the chief financial officer now owns 16,339 shares of the company’s stock, valued at approximately $640,652.19. This trade represents a 18.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Brian Kretzmer bought 653 shares of the stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $38.33 per share, for a total transaction of $25,029.49. Following the acquisition, the director now owns 12,968 shares in the company, valued at $497,063.44. The trade was a 5.30 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,028 shares of company stock valued at $198,024. 2.08% of the stock is currently owned by corporate insiders.

Ziff Davis Price Performance

Shares of Ziff Davis stock opened at $31.76 on Friday. Ziff Davis, Inc. has a twelve month low of $30.63 and a twelve month high of $60.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $1.36 billion, a P/E ratio of 26.92 and a beta of 1.47. The firm’s 50-day simple moving average is $42.49 and its 200-day simple moving average is $49.20.

Analyst Ratings Changes

A number of brokerages have weighed in on ZD. UBS Group reduced their price target on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Citigroup reduced their target price on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price target on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.67.

About Ziff Davis

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.