Edgestream Partners L.P. Sells 22,998 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Edgestream Partners L.P. reduced its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 35.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 41,013 shares of the technology company’s stock after selling 22,998 shares during the period. Edgestream Partners L.P. owned about 0.10% of Ziff Davis worth $2,229,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZD. Janus Henderson Group PLC grew its holdings in shares of Ziff Davis by 2.0% in the third quarter. Janus Henderson Group PLC now owns 3,214,600 shares of the technology company’s stock valued at $156,422,000 after acquiring an additional 62,261 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ziff Davis by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company’s stock valued at $62,040,000 after acquiring an additional 36,863 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Ziff Davis by 100,954.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,221 shares of the technology company’s stock valued at $68,861,000 after acquiring an additional 1,265,967 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ziff Davis by 9.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 757,944 shares of the technology company’s stock valued at $41,187,000 after acquiring an additional 62,402 shares in the last quarter. Finally, Brave Asset Management Inc. grew its holdings in shares of Ziff Davis by 3.9% in the fourth quarter. Brave Asset Management Inc. now owns 363,527 shares of the technology company’s stock valued at $19,754,000 after acquiring an additional 13,659 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZD. Citigroup reduced their target price on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Barclays upped their price objective on Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group dropped their price objective on 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, JPMorgan Chase & Co. dropped their price objective on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Three investment 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.com, Ziff Davis has an average rating of “Moderate Buy” and a consensus price target of $65.67.

Insiders Place Their Bets

In related news, Director W Brian Kretzmer bought 653 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price 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 in the company, valued at approximately $497,063.44. The trade was a 5.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Bret Richter purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $39.21 per share, for a total transaction of $98,025.00. Following the acquisition, the chief financial officer now owns 16,339 shares of the company’s stock, valued at approximately $640,652.19. This trade represents a 18.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,028 shares of company stock worth $198,024 over the last 90 days. Corporate insiders own 2.08% of the company’s stock.

Ziff Davis Trading Up 4.3 %

NASDAQ:ZD opened at $40.85 on Monday. The company has a market cap of $1.75 billion, a P/E ratio of 34.62 and a beta of 1.42. The stock’s fifty day moving average price is $51.03 and its two-hundred day moving average price is $51.22. Ziff Davis, Inc. has a 1 year low of $37.62 and a 1 year high of $68.53. 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 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.