Tocqueville Asset Management L.P. Makes New Investment in Ziff Davis, Inc. $ZD

Tocqueville Asset Management L.P. bought a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 196,217 shares of the technology company’s stock, valued at approximately $10,276,000.

Other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Ziff Davis by 17.1% in the first quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company’s stock valued at $92,000 after purchasing an additional 319 shares during the period. NBC Securities Inc. lifted its position in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after acquiring an additional 485 shares during the period. California State Teachers Retirement System boosted its stake in shares of Ziff Davis by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 41,167 shares of the technology company’s stock worth $1,246,000 after acquiring an additional 550 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after acquiring an additional 590 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in Ziff Davis by 226.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after purchasing an additional 687 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ZD shares. Evercore reissued an “outperform” rating and issued a $64.00 target price on shares of Ziff Davis in a report on Monday, August 10th. Zacks Research cut shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. UBS Group upped their price target on shares of Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Weiss Ratings raised shares of Ziff Davis from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Piper Sandler set a $48.00 target price on Ziff Davis in a research note on Monday, May 11th. Three equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.62.

Ziff Davis Stock Up 0.7%

ZD opened at $55.50 on Thursday. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $58.06. The business has a 50-day moving average of $51.63 and a two-hundred day moving average of $44.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 3.14 and a beta of 1.08.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The business had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. During the same period in the prior year, the firm posted $1.24 EPS. The company’s revenue was down 18.7% on a year-over-year basis.

Insider Activity at Ziff Davis

In other news, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the completion of the sale, the director directly owned 13,468 shares of the company’s stock, valued at $628,282.20. The trade was a 7.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeremy Rossen sold 8,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the sale, the executive vice president owned 14,462 shares of the company’s stock, valued at approximately $679,714. The trade was a 35.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,641 shares of company stock worth $1,755,306. Company insiders own 3.40% of the company’s stock.

Ziff Davis Company Profile

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.