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

Edgestream Partners L.P. lessened its position in Ziff Davis, Inc. (NASDAQ:ZD) by 35.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,013 shares of the technology company’s stock after selling 22,998 shares during the quarter. Edgestream Partners L.P.’s holdings in Ziff Davis were worth $2,229,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ZD. Janney Montgomery Scott LLC bought a new position in Ziff Davis in the third quarter valued at $809,000. Principal Financial Group Inc. increased its stake in Ziff Davis by 36.4% in the third quarter. Principal Financial Group Inc. now owns 210,989 shares of the technology company’s stock valued at $10,267,000 after acquiring an additional 56,352 shares during the last quarter. Atria Investments Inc grew its stake in shares of Ziff Davis by 36.3% during the third quarter. Atria Investments Inc now owns 8,396 shares of the technology company’s stock valued at $409,000 after buying an additional 2,234 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Ziff Davis during the third quarter valued at about $775,000. Finally, Victory Capital Management Inc. grew its stake in shares of Ziff Davis by 69.8% during the third quarter. Victory Capital Management Inc. now owns 53,905 shares of the technology company’s stock valued at $2,623,000 after buying an additional 22,155 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Stock Performance

Ziff Davis stock opened at $40.85 on Monday. 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 moving average of $51.03 and a 200-day moving average of $51.22. The firm has a market cap of $1.75 billion, a P/E ratio of 34.62 and a beta of 1.42. Ziff Davis, Inc. has a 1-year low of $37.62 and a 1-year high of $68.53.

Insider Transactions at Ziff Davis

In related news, CFO Bret Richter acquired 2,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $39.21 per share, for a total transaction of $98,025.00. Following the completion of the acquisition, the chief financial officer now directly owns 16,339 shares of the company’s stock, valued at approximately $640,652.19. This represents a 18.06 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Brian Kretzmer acquired 653 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $38.33 per share, with a total value of $25,029.49. Following the completion of the acquisition, the director now directly owns 12,968 shares of the company’s stock, valued at $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. Over the last ninety days, insiders bought 5,028 shares of company stock worth $198,024. Company insiders own 2.08% of the company’s stock.

Wall Street Analyst Weigh In

ZD has been the topic of a number of recent research reports. UBS Group reduced 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. Citigroup reduced their price objective on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced 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. Finally, Barclays raised 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.67.

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.