Raymond James & Associates Lowers Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Raymond James & Associates lowered its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD – Get Rating) by 23.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,563 shares of the technology company’s stock after selling 8,930 shares during the period. Raymond James & Associates’ holdings in Ziff Davis were worth $1,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ZD. Rice Hall James & Associates LLC bought a new stake in shares of Ziff Davis in the first quarter worth about $63,717,000. US Bancorp DE bought a new position in shares of Ziff Davis during the 1st quarter valued at approximately $539,000. HighTower Advisors LLC purchased a new position in shares of Ziff Davis in the first quarter valued at $241,000. Citigroup Inc. bought a new stake in Ziff Davis in the first quarter worth $707,000. Finally, PNC Financial Services Group Inc. bought a new position in Ziff Davis during the first quarter valued at $315,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Ziff Davis Stock Up 2.0 %

NASDAQ:ZD opened at $87.00 on Tuesday. The stock has a fifty day simple moving average of $84.40 and a 200-day simple moving average of $80.02. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 11.92 and a beta of 1.12. Ziff Davis, Inc. has a twelve month low of $66.85 and a twelve month high of $109.98.

Ziff Davis (NASDAQ:ZD – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The technology company reported $1.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.46. The company had revenue of $341.87 million during the quarter, compared to analyst estimates of $348.88 million. Ziff Davis had a net margin of 25.32% and a return on equity of 15.60%. Analysts anticipate that Ziff Davis, Inc. will post 6.32 EPS for the current year.

Insider Buying and Selling

In other news, EVP Jeremy Rossen sold 2,199 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $85.68, for a total transaction of $188,410.32. Following the transaction, the executive vice president now owns 5,898 shares in the company, valued at $505,340.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.50% of the stock is owned by insiders.

Analyst Ratings Changes

ZD has been the topic of a number of research reports. Citigroup started coverage on shares of Ziff Davis in a report on Tuesday, December 13th. They issued a “neutral” rating and a $100.00 target price on the stock. Barclays initiated coverage on Ziff Davis in a research report on Friday, January 6th. They set an “equal weight” rating and a $88.00 price objective on the stock. Robert W. Baird dropped their target price on Ziff Davis from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. TheStreet upgraded Ziff Davis from a “c+” rating to a “b-” rating in a report on Tuesday, November 29th. Finally, JPMorgan Chase & Co. downgraded Ziff Davis from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $115.00 to $85.00 in a research report on Tuesday, December 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.80.

Ziff Davis Company Profile

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Ziff Davis, Inc is a digital media and internet company. It operates through the following segments: Digital Media and Cybersecurity and Martech. The Digital Media segment consists of a portfolio of web properties and apps which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle,Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter and What to Expect, among others.