Ziff Davis, Inc. $ZD Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 320,275 shares of the technology company’s stock after selling 19,387 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of Ziff Davis worth $13,439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Federated Hermes Inc. purchased a new position in shares of Ziff Davis during the 4th quarter worth approximately $25,000. Hantz Financial Services Inc. lifted its stake in Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after buying an additional 590 shares in the last quarter. NBC Securities Inc. lifted its stake in Ziff Davis by 121.2% in the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after buying an additional 485 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after buying an additional 687 shares during the last quarter. Finally, TD Private Client Wealth LLC acquired a new stake in Ziff Davis during the 4th quarter valued at $52,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ziff Davis

In other news, CFO Bret Richter sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the transaction, the chief financial officer directly owned 29,244 shares in the company, valued at $1,370,958.72. This represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Rossen sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $47.00, for a total transaction of $376,000.00. Following the completion of the sale, the executive vice president directly owned 14,462 shares in the company, valued at $679,714. This represents a 35.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,422 shares of company stock worth $1,468,864 in the last three months. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZD shares. Susquehanna lifted their price objective on Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, May 5th. Zacks Research lowered shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and set a $61.00 price target on shares of Ziff Davis in a research note on Tuesday, May 12th. Piper Sandler set a $48.00 price target on shares of Ziff Davis in a report on Monday, May 11th. Finally, Barclays upped their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ziff Davis has an average rating of “Hold” and a consensus target price of $47.25.

Ziff Davis Stock Performance

Ziff Davis stock opened at $53.08 on Friday. The firm has a market capitalization of $1.95 billion, a P/E ratio of 46.97 and a beta of 1.08. The stock has a fifty day moving average price of $49.37 and a 200 day moving average price of $43.09. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $54.97. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $267.64 million for the quarter, compared to analyst estimates of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS.

Ziff Davis Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.