Ziff Davis (NASDAQ:ZD) CEO Vivek Shah Sells 2,650 Shares of Company Stock

Ziff Davis, Inc. (NASDAQ:ZD) CEO Vivek Shah sold 2,650 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $50.67, for a total value of $134,275.50. Following the transaction, the chief executive officer directly owned 357,632 shares of the company’s stock, valued at $18,121,213.44. This represents a 0.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ziff Davis Stock Down 0.4%

Shares of ZD stock traded down $0.20 during mid-day trading on Friday, reaching $51.49. 371,711 shares of the company’s stock traded hands, compared to its average volume of 729,314. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $60.48. The company has a market cap of $1.70 billion, a P/E ratio of 3.04 and a beta of 1.10. The company has a quick ratio of 2.16, a current ratio of 2.35 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $55.93 and its 200-day moving average price is $47.94.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.19. Ziff Davis had a net margin of 49.46% and a return on equity of 9.10%. The company had revenue of $289.33 million during the quarter, compared to analyst estimates of $295.31 million. During the same period last year, the business earned $1.76 EPS. Ziff Davis’s quarterly revenue was down 20.5% compared to the same quarter last year. On average, equities analysts expect that Ziff Davis, Inc. will post 4.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ZD shares. Weiss Ratings downgraded shares of Ziff Davis from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Monday. Zacks Research raised shares of Ziff Davis to a “hold” rating in a research note on Tuesday, September 15th. JPMorgan Chase & Co. initiated coverage on shares of Ziff Davis in a report on Friday, September 11th. They issued a “neutral” rating and a $60.00 target price on the stock. Evercore restated an “outperform” rating and set a $64.00 target price on shares of Ziff Davis in a research report on Monday, August 10th. Finally, Susquehanna increased their price target on shares of Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.33.

Institutional Investors Weigh In On Ziff Davis

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in Ziff Davis in the second quarter valued at about $187,893,000. Janus Henderson Group PLC raised its stake in Ziff Davis by 2.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company’s stock worth $147,963,000 after acquiring an additional 92,496 shares during the last quarter. Pale Fire Capital SE raised its stake in Ziff Davis by 130.0% in the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after acquiring an additional 1,573,414 shares during the last quarter. Legal & General Group Plc acquired a new stake in Ziff Davis during the 2nd quarter worth about $94,314,000. Finally, Rice Hall James & Associates LLC acquired a new stake in Ziff Davis during the 2nd quarter worth about $43,022,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About Ziff Davis

Ziff Davis, Inc. is a digital media and internet company that operates a portfolio of websites, apps and online services. Its brands cover technology and shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity and marketing technology. They include PCMag, IGN, Mashable, Everyday Health and Ookla, whose services include Speedtest and Downdetector. The company serves consumers and businesses in the United States and international markets. Its activities include publishing editorial content, providing internet and software services, and offering digital advertising and marketing solutions.