Edgestream Partners L.P. Cuts Stock Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Edgestream Partners L.P. lessened its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 35.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,013 shares of the technology company's stock after selling 22,998 shares during the period. Edgestream Partners L.P. owned about 0.10% of Ziff Davis worth $2,229,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in 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 in the last quarter. Geode Capital Management LLC increased its stake 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 acquiring an additional 36,863 shares during the last quarter. Pacer Advisors Inc. increased its stake 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 acquiring an additional 1,265,967 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Ziff Davis by 9.0% during 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 in the last quarter. Finally, Brave Asset Management Inc. lifted its stake in Ziff Davis by 3.9% during the fourth quarter. Brave Asset Management Inc. now owns 363,527 shares of the technology company's stock worth $19,754,000 after purchasing an additional 13,659 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

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Ziff Davis Trading Down 3.4 %

Shares of ZD stock traded down $1.37 on Thursday, hitting $38.68. The company had a trading volume of 804,658 shares, compared to its average volume of 424,241. The stock's 50-day moving average is $50.16 and its two-hundred day moving average is $51.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $1.66 billion, a P/E ratio of 32.78 and a beta of 1.42. Ziff Davis, Inc. has a twelve month low of $37.62 and a twelve month high of $66.07.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ZD shares. Citigroup lowered their price target on Ziff Davis from $58.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered 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. Finally, UBS Group lowered their target price on Ziff Davis from $65.00 to $56.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $65.67.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, Director W Brian Kretzmer purchased 653 shares of the business's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $38.33 per share, for a total transaction of $25,029.49. Following the acquisition, the director now owns 12,968 shares of the company's stock, valued at approximately $497,063.44. This represents a 5.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sarah Ann Fay acquired 1,282 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $39.00 per share, with a total value of $49,998.00. Following the purchase, the director now directly owns 18,655 shares in the company, valued at $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 90 days, insiders bought 5,028 shares of company stock valued at $198,024. 2.08% of the stock is currently owned by company insiders.

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.