Ziff Davis, Inc. (NASDAQ:ZD) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its position in Ziff Davis, Inc. (NASDAQ:ZD) by 98.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 76,446 shares of the technology company’s stock after selling 4,865,532 shares during the period. Lazard Asset Management LLC owned approximately 0.17% of Ziff Davis worth $4,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EntryPoint Capital LLC boosted its stake in shares of Ziff Davis by 100.5% in the first quarter. EntryPoint Capital LLC now owns 4,875 shares of the technology company’s stock valued at $307,000 after buying an additional 2,444 shares in the last quarter. Tocqueville Asset Management L.P. grew its stake in shares of Ziff Davis by 9.4% during the 1st quarter. Tocqueville Asset Management L.P. now owns 58,000 shares of the technology company’s stock worth $3,656,000 after purchasing an additional 5,000 shares during the period. Lindenwold Advisors INC increased its holdings in shares of Ziff Davis by 6.4% in the 1st quarter. Lindenwold Advisors INC now owns 4,312 shares of the technology company’s stock valued at $272,000 after purchasing an additional 261 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Ziff Davis in the 1st quarter valued at about $289,000. Finally, ProShare Advisors LLC lifted its stake in shares of Ziff Davis by 3.1% in the first quarter. ProShare Advisors LLC now owns 10,952 shares of the technology company’s stock valued at $690,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ZD. Wedbush lowered their target price on shares of Ziff Davis from $78.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. upgraded Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 price target on the stock in a report on Thursday, May 2nd. Barclays reduced their price objective on Ziff Davis from $68.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Finally, Citigroup dropped their price target on Ziff Davis from $62.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ziff Davis presently has a consensus rating of “Moderate Buy” and an average price target of $73.88.

Ziff Davis Price Performance

Shares of NASDAQ:ZD opened at $48.79 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.95 and a current ratio of 1.95. The business’s fifty day moving average price is $53.55 and its two-hundred day moving average price is $58.95. The stock has a market cap of $2.25 billion, a PE ratio of 40.44 and a beta of 1.29. Ziff Davis, Inc. has a one year low of $44.11 and a one year high of $73.79.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. The business had revenue of $314.49 million for the quarter, compared to analyst estimates of $317.71 million. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. On average, analysts forecast that Ziff Davis, Inc. will post 6.09 EPS for the current fiscal year.

Ziff Davis Company 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.