Nordea Investment Management AB Sells 45,555 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Nordea Investment Management AB cut its position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,014,491 shares of the technology company's stock after selling 45,555 shares during the quarter. Nordea Investment Management AB owned approximately 2.37% of Ziff Davis worth $55,868,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of 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 during the period. Dimensional Fund Advisors LP lifted its position in Ziff Davis by 14.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,314 shares of the technology company's stock worth $113,255,000 after acquiring an additional 257,056 shares during the period. Geode Capital Management LLC grew its stake in shares of Ziff Davis by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company's stock valued at $62,040,000 after purchasing an additional 36,863 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ziff Davis by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 695,542 shares of the technology company's stock valued at $33,845,000 after purchasing an additional 60,472 shares during the period. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Ziff Davis by 11.0% in the third quarter. Rice Hall James & Associates LLC now owns 501,313 shares of the technology company's stock valued at $24,394,000 after purchasing an additional 49,510 shares during the period. Hedge funds and other institutional investors own 99.76% of the company's stock.

Ziff Davis Trading Down 1.9 %

Shares of ZD stock traded down $1.00 during trading hours on Wednesday, hitting $52.37. 377,745 shares of the company were exchanged, compared to its average volume of 318,949. Ziff Davis, Inc. has a 1 year low of $37.76 and a 1 year high of $70.90. The firm has a fifty day moving average of $55.75 and a 200 day moving average of $50.52. The firm has a market cap of $2.24 billion, a PE ratio of 44.38 and a beta of 1.36. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays boosted their target price on Ziff Davis from $44.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. UBS Group cut their price objective on Ziff Davis from $76.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Ziff Davis currently has a consensus rating of "Moderate Buy" and an average price target of $69.71.

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.