102,570 Shares of Ziff Davis, Inc. $ZD Acquired by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC bought a new position in Ziff Davis, Inc. (NASDAQ:ZD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 102,570 shares of the technology company’s stock, valued at approximately $5,815,000.

Several other institutional investors also recently modified their holdings of ZD. QRG Capital Management Inc. lifted its position in Ziff Davis by 5.2% in the 2nd quarter. QRG Capital Management Inc. now owns 6,358 shares of the technology company’s stock valued at $333,000 after acquiring an additional 316 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Ziff Davis in the second quarter worth $228,000. Integrated Wealth Concepts LLC purchased a new position in shares of Ziff Davis in the second quarter worth $58,000. Varde Management L.P. lifted its holdings in shares of Ziff Davis by 16.9% during the second quarter. Varde Management L.P. now owns 624,028 shares of the technology company’s stock valued at $32,680,000 after purchasing an additional 90,000 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Ziff Davis during the second quarter valued at $68,000. 99.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank Of Canada boosted their target price on Ziff Davis from $48.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Zacks Research raised shares of Ziff Davis to a “hold” rating in a report on Tuesday, September 15th. JPMorgan Chase & Co. assumed coverage on shares of Ziff Davis in a report on Friday, September 11th. They set a “neutral” rating and a $60.00 price objective for the company. Weiss Ratings upgraded shares of Ziff Davis from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, Evercore restated an “outperform” rating and issued a $64.00 target price on shares of Ziff Davis in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ziff Davis presently has an average rating of “Hold” and an average price target of $59.75.

Ziff Davis Stock Performance

Shares of NASDAQ:ZD traded up $0.39 during trading on Friday, hitting $56.30. The company’s stock had a trading volume of 83,765 shares, compared to its average volume of 758,911. 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 firm has a market cap of $1.93 billion, a price-to-earnings ratio of 3.19 and a beta of 1.11. The company has a 50-day moving average of $55.67 and a 200-day moving average of $49.92. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $60.48.

Ziff Davis (NASDAQ:ZD) last announced its earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same period in the previous year, the business posted $1.24 earnings per share. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. On average, sell-side analysts expect that Ziff Davis, Inc. will post 4.26 earnings per share for the current year.

Insider Transactions at Ziff Davis

In other news, CAO Lori Tansley sold 1,400 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total transaction of $76,664.00. Following the completion of the sale, the chief accounting officer owned 767 shares of the company’s stock, valued at $42,000.92. The trade was a 64.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Rossen sold 3,819 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the sale, the executive vice president owned 10,643 shares of the company’s stock, valued at $584,619.99. This trade represents a 26.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,732 shares of company stock worth $425,436 in the last 90 days. 3.40% of the stock is currently owned by insiders.

About Ziff Davis

Ziff Davis, Inc (NASDAQ:ZD) is a digital media and technology company that creates content, services and online experiences for consumers and businesses. Its portfolio spans technology, gaming and entertainment, shopping, health and wellness, and cybersecurity and marketing technology.

The company operates a range of digital brands and platforms, including IGN, PCMag, Mashable, Lifehacker, RetailMeNot, Ookla, Spiceworks and Humble Bundle. Its offerings include editorial content and reviews, consumer purchase guidance, gaming and entertainment coverage, internet-performance testing, software and data services, and business-to-business marketing solutions.

Ziff Davis traces its origins to the magazine publisher founded in 1927 by William Bernard Ziff and Bernard G.