Jupiter Topco LLC Makes New Investment in Ziff Davis, Inc. $ZD

Jupiter Topco LLC acquired a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,587,806 shares of the technology company’s stock, valued at approximately $187,893,000. Jupiter Topco LLC owned about 0.10% of Ziff Davis as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ZD. Public Employees Retirement System of Ohio grew its holdings in Ziff Davis by 17.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company’s stock valued at $92,000 after purchasing an additional 319 shares during the last quarter. NBC Securities Inc. boosted its position in shares of Ziff Davis by 121.2% during the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after buying an additional 485 shares during the period. California State Teachers Retirement System boosted its position in shares of Ziff Davis by 1.4% during the second quarter. California State Teachers Retirement System now owns 41,167 shares of the technology company’s stock valued at $1,246,000 after buying an additional 550 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Ziff Davis by 212.2% during the fourth 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 during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Ziff Davis by 226.7% during the fourth 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. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Trading Up 0.4%

Shares of NASDAQ ZD opened at $55.61 on Thursday. Ziff Davis, Inc. has a twelve month low of $22.45 and a twelve month high of $58.06. The firm has a market cap of $1.91 billion, a PE ratio of 3.15 and a beta of 1.08. The business has a fifty day simple moving average of $52.63 and a two-hundred day simple moving average of $45.30. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32.

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 analysts’ consensus estimates of $0.81 by $0.22. The business had revenue of $286.74 million for the quarter, compared to the consensus estimate of $286.10 million. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The business’s revenue was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ZD shares. Citigroup raised their price target on Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Piper Sandler set a $48.00 target price on Ziff Davis in a research note on Monday, May 11th. UBS Group lifted their target price on Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Barclays boosted their target price 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. Finally, Zacks Research downgraded shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.62.

Insider Buying and Selling

In other news, EVP Jeremy Rossen sold 3,819 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the sale, the executive vice president owned 10,643 shares in the company, valued at approximately $584,619.99. The trade was a 26.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director W Brian Kretzmer sold 2,513 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total transaction of $138,994.03. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,106,200. The trade was a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,807 shares of company stock valued at $1,695,424 over the last quarter. 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.