Ziff Davis, Inc. (NASDAQ:ZD) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,978 shares of the technology company’s stock after selling 305 shares during the period. Arizona State Retirement System’s holdings in Ziff Davis were worth $705,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in shares of Ziff Davis by 2.0% during the third quarter. Janus Henderson Group PLC now owns 3,214,600 shares of the technology company’s stock worth $156,422,000 after buying an additional 62,261 shares during the period. Geode Capital Management LLC lifted its position in Ziff Davis by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company’s stock valued at $62,040,000 after purchasing an additional 36,863 shares during the period. Pacer Advisors Inc. lifted its position in Ziff Davis by 100,954.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,221 shares of the technology company’s stock valued at $68,861,000 after purchasing an additional 1,265,967 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ziff Davis by 9.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 757,944 shares of the technology company’s stock valued at $41,187,000 after purchasing an additional 62,402 shares during the period. Finally, Brave Asset Management Inc. lifted its position in Ziff Davis by 3.9% in the fourth quarter. Brave Asset Management Inc. now owns 363,527 shares of the technology company’s stock valued at $19,754,000 after purchasing an additional 13,659 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Ziff Davis Price Performance

ZD stock opened at $40.25 on Friday. The firm has a 50 day moving average of $49.84 and a 200-day moving average of $50.97. Ziff Davis, Inc. has a 12-month low of $37.62 and a 12-month high of $64.57. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 34.11 and a beta of 1.42.

Insider Activity

In other Ziff Davis news, Director W Brian Kretzmer acquired 653 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $38.33 per share, with a total value of $25,029.49. Following the purchase, the director now directly owns 12,968 shares in the company, valued at approximately $497,063.44. This trade represents a 5.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Sarah Ann Fay acquired 1,282 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the purchase, the director now owns 18,655 shares in the company, valued at approximately $727,545. This represents a 7.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 5,028 shares of company stock worth $198,024. Company insiders own 2.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ZD shares. UBS Group reduced their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Citigroup reduced their price objective on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research report 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.