Prudential Financial Inc. Cuts Stock Position in Ziff Davis, Inc. (NASDAQ:ZD)

Prudential Financial Inc. lowered its position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,202 shares of the technology company's stock after selling 23,704 shares during the quarter. Prudential Financial Inc. owned about 0.18% of Ziff Davis worth $4,199,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities analysts recently commented on ZD shares. JPMorgan Chase & Co. reduced their price target on Ziff Davis from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. UBS Group dropped their price target on shares of Ziff Davis from $65.00 to $56.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup decreased their price target on Ziff Davis from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.67.

Ziff Davis Trading Down 5.4 %

Shares of NASDAQ:ZD traded down $1.90 during mid-day trading on Friday, reaching $33.48. The stock had a trading volume of 682,523 shares, compared to its average volume of 494,769. The firm has a market cap of $1.44 billion, a PE ratio of 28.37 and a beta of 1.47. Ziff Davis, Inc. has a twelve month low of $32.86 and a twelve month high of $60.62. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $45.43 and a two-hundred day simple moving average of $50.05.

Insider Activity

In related news, CFO Bret Richter bought 2,500 shares of Ziff Davis stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $39.21 per share, with a total value of $98,025.00. Following the transaction, the chief financial officer now directly owns 16,339 shares of the company's stock, valued at approximately $640,652.19. The trade was a 18.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Brian Kretzmer bought 653 shares of the stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $38.33 per share, for a total transaction of $25,029.49. Following the acquisition, the director now directly owns 12,968 shares in the company, valued at approximately $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. In the last three months, insiders have bought 5,028 shares of company stock valued at $198,024. 2.08% of the stock is currently owned by 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.