Invesco Ltd. Trims Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Invesco Ltd. lowered its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 56.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,618 shares of the technology company's stock after selling 216,049 shares during the period. Invesco Ltd. owned approximately 0.39% of Ziff Davis worth $9,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Millstone Evans Group LLC bought a new position in shares of Ziff Davis in the fourth quarter valued at approximately $35,000. Quadrant Capital Group LLC lifted its stake in Ziff Davis by 278.9% during the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company's stock valued at $36,000 after acquiring an additional 488 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Ziff Davis during the 3rd quarter worth $37,000. Summit Securities Group LLC bought a new stake in shares of Ziff Davis in the 4th quarter worth $37,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Ziff Davis by 42.9% in the fourth quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company's stock valued at $47,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 99.76% of the company's stock.

Insider Activity

In related news, CFO Bret Richter acquired 2,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $39.21 per share, for a total transaction of $98,025.00. Following the completion of the transaction, the chief financial officer now owns 16,339 shares of the company's stock, valued at $640,652.19. This trade represents a 18.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director W Brian Kretzmer purchased 653 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $38.33 per share, with a total value of $25,029.49. Following the completion of the acquisition, the director now directly owns 12,968 shares in the company, valued at $497,063.44. The trade was a 5.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,028 shares of company stock worth $198,024. 2.16% of the stock is currently owned by insiders.

Ziff Davis Price Performance

Shares of ZD traded down $0.12 during midday trading on Friday, hitting $30.95. 430,264 shares of the company traded hands, compared to its average volume of 508,872. Ziff Davis, Inc. has a one year low of $29.34 and a one year high of $60.62. The firm has a market cap of $1.33 billion, a P/E ratio of 26.23 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a 50-day moving average of $38.02 and a 200-day moving average of $48.15.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZD. JPMorgan Chase & Co. downgraded Ziff Davis from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $60.00 to $33.00 in a research note on Tuesday, April 22nd. UBS Group lowered their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup dropped their target price on shares of Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Ziff Davis presently has a consensus rating of "Hold" and a consensus target price of $58.33.

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.