Ziff Davis (NASDAQ:ZD) Shares Gap Down to $54.48

Ziff Davis, Inc. (NASDAQ:ZD)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $54.48, but opened at $52.01. Ziff Davis shares last traded at $52.43, with a volume of 17,834 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZD. UBS Group reduced their price objective on Ziff Davis from $77.00 to $76.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 target price for the company in a research note on Thursday, May 2nd. Evercore ISI upped their target price on Ziff Davis from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Ziff Davis in a research note on Friday, February 23rd. Finally, Wedbush upped their target price on Ziff Davis from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.57.

Ziff Davis Price Performance

The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 66.44 and a beta of 1.24. The company has a 50 day simple moving average of $58.88 and a 200 day simple moving average of $63.08.

Ziff Davis (NASDAQ:ZD) last posted its earnings results on Wednesday, February 21st. The technology company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.02. Ziff Davis had a return on equity of 13.97% and a net margin of 3.04%. The business had revenue of $389.89 million during the quarter, compared to analyst estimates of $400.71 million. As a group, research analysts predict that Ziff Davis, Inc. will post 6.23 EPS for the current year.

Insider Activity

In related news, EVP Jeremy Rossen sold 4,162 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $69.43, for a total value of $288,967.66. Following the completion of the transaction, the executive vice president now owns 7,261 shares of the company’s stock, valued at $504,131.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Ziff Davis in the 4th quarter worth approximately $32,202,000. CDAM UK Ltd lifted its holdings in shares of Ziff Davis by 26.5% in the 4th quarter. CDAM UK Ltd now owns 1,181,995 shares of the technology company’s stock worth $79,418,000 after purchasing an additional 247,375 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Ziff Davis by 11.3% in the 3rd quarter. Legal & General Group Plc now owns 1,575,994 shares of the technology company’s stock worth $100,375,000 after purchasing an additional 159,839 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ziff Davis by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,693,227 shares of the technology company’s stock worth $113,771,000 after purchasing an additional 136,220 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Ziff Davis by 212.4% in the 4th quarter. Retirement Systems of Alabama now owns 181,314 shares of the technology company’s stock worth $12,182,000 after purchasing an additional 123,275 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Company 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.