Ziff Davis, Inc. $ZD Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Ziff Davis, Inc. (NASDAQ:ZD) by 28.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 301,529 shares of the technology company’s stock after purchasing an additional 67,547 shares during the quarter. Principal Financial Group Inc. owned 0.80% of Ziff Davis worth $12,652,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Brave Asset Management Inc. increased its stake in shares of Ziff Davis by 11.9% during the first quarter. Brave Asset Management Inc. now owns 470,282 shares of the technology company’s stock worth $19,733,000 after purchasing an additional 50,127 shares in the last quarter. Range Financial Group LLC purchased a new stake in Ziff Davis during the 4th quarter worth approximately $1,297,000. LSV Asset Management raised its holdings in shares of Ziff Davis by 17.5% during the fourth quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock valued at $31,906,000 after acquiring an additional 135,021 shares during the last quarter. Incline Global Management LLC lifted its position in shares of Ziff Davis by 8.1% in the fourth quarter. Incline Global Management LLC now owns 401,933 shares of the technology company’s stock valued at $14,128,000 after acquiring an additional 30,212 shares in the last quarter. Finally, ACR Alpine Capital Research LLC acquired a new position in Ziff Davis in the 1st quarter valued at $3,050,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ziff Davis

In other news, Director Kirk P. Mcdonald sold 1,075 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the completion of the transaction, the director directly owned 13,468 shares in the company, valued at $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the transaction, the executive vice president directly owned 14,462 shares in the company, valued at approximately $679,714. The trade was a 35.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 31,422 shares of company stock worth $1,468,864. 3.40% of the stock is currently owned by insiders.

Ziff Davis Price Performance

NASDAQ:ZD opened at $51.60 on Friday. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $54.97. The stock’s fifty day moving average is $48.29 and its two-hundred day moving average is $42.45. The company has a market capitalization of $1.90 billion, a P/E ratio of 45.66 and a beta of 1.08. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $267.64 million during the quarter, compared to the consensus estimate of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ZD. Susquehanna increased their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, May 5th. Barclays upped their price target on Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Piper Sandler set a $48.00 price objective on Ziff Davis in a research note on Monday, May 11th. Evercore reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Ziff Davis in a research note on Tuesday, May 12th. Finally, Zacks Research cut shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.25.

Ziff Davis 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.