Ziff Davis, Inc. $ZD Shares Sold by Pale Fire Capital SE

Pale Fire Capital SE cut its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,660,554 shares of the technology company’s stock after selling 122,812 shares during the quarter. Ziff Davis accounts for 3.7% of Pale Fire Capital SE’s holdings, making the stock its 3rd biggest position. Pale Fire Capital SE owned 0.08% of Ziff Davis worth $139,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nykredit A S acquired a new position in Ziff Davis during the second quarter valued at approximately $68,000. Empowered Funds LLC acquired a new stake in Ziff Davis in the second quarter worth $8,422,000. Public Employees Retirement System of Ohio bought a new position in shares of Ziff Davis during the second quarter worth $115,000. Corient Private Wealth LP acquired a new stake in Ziff Davis during the 2nd quarter worth $2,978,000. Finally, Bank of America Corp DE acquired a new stake in Ziff Davis during the 2nd quarter worth $10,740,000. Institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

ZD has been the topic of several research analyst reports. Citigroup raised their target price on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Royal Bank Of Canada upped their target price on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Susquehanna upped their price target on Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Monday, August 10th. Finally, UBS Group raised their price target on shares of Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ziff Davis has an average rating of “Hold” and a consensus target price of $56.62.

Ziff Davis Stock Performance

Shares of NASDAQ ZD opened at $56.69 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50 day moving average price of $53.57 and a 200 day moving average price of $46.14. The stock has a market capitalization of $1.94 billion, a PE ratio of 3.21 and a beta of 1.09. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $58.06.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.22. The firm had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The company’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 earnings per share.

Insider Activity at Ziff Davis

In related news, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the transaction, the director directly owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. The trade was a 7.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of Ziff Davis stock in a transaction 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 transaction, the executive vice president directly owned 14,462 shares of the company’s stock, valued at approximately $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,807 shares of company stock worth $1,695,424 in the last three months. 3.40% of the stock is owned by company insiders.

About Ziff Davis

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.