Ziff Davis, Inc. (NASDAQ:ZD) Shares Sold by Heron Bay Capital Management

Heron Bay Capital Management lowered its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 65.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,655 shares of the technology company's stock after selling 8,904 shares during the period. Heron Bay Capital Management's holdings in Ziff Davis were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in shares of Ziff Davis in the 4th quarter valued at $533,000. Millstone Evans Group LLC purchased a new stake in Ziff Davis in the fourth quarter valued at $35,000. Teacher Retirement System of Texas lifted its position in Ziff Davis by 15.8% in the fourth quarter. Teacher Retirement System of Texas now owns 33,007 shares of the technology company's stock valued at $1,794,000 after acquiring an additional 4,506 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in Ziff Davis by 4.1% in the fourth quarter. Tocqueville Asset Management L.P. now owns 93,700 shares of the technology company's stock valued at $5,092,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Ziff Davis during the fourth quarter worth about $224,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ziff Davis

In related news, Director Sarah Ann Fay purchased 1,282 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $39.00 per share, for a total transaction of $49,998.00. Following the acquisition, the director now directly owns 18,655 shares in the company, valued at $727,545. This trade represents a 7.38 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director W Brian Kretzmer acquired 653 shares of the business's stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $38.33 per share, for a total transaction of $25,029.49. Following the completion of the transaction, the director now directly owns 12,968 shares of the company's stock, valued at $497,063.44. This trade represents a 5.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 5,028 shares of company stock worth $198,024 over the last ninety days. 2.33% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

ZD has been the subject of a number of research analyst reports. Citigroup decreased their target price on Ziff Davis from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. UBS Group decreased their price objective on Ziff Davis from $65.00 to $56.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ziff Davis from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $65.67.

Ziff Davis Stock Performance

Shares of ZD stock traded down $0.64 during midday trading on Thursday, hitting $41.09. The company had a trading volume of 553,023 shares, compared to its average volume of 461,805. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 34.82 and a beta of 1.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. Ziff Davis, Inc. has a 52-week low of $37.62 and a 52-week high of $63.87. The company's 50 day simple moving average is $47.54 and its 200 day simple moving average is $50.55.

Ziff Davis Profile

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.