ArrowMark Colorado Holdings LLC Lowers Stake in Ziff Davis, Inc. (NASDAQ:ZD)

ArrowMark Colorado Holdings LLC cut its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 18.9% during the third quarter, Holdings Channel.com reports. The fund owned 2,960,232 shares of the technology company’s stock after selling 692,018 shares during the period. Ziff Davis comprises approximately 1.8% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 12th biggest position. ArrowMark Colorado Holdings LLC owned approximately 0.07% of Ziff Davis worth $144,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Ziff Davis by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,057,314 shares of the technology company’s stock valued at $113,255,000 after purchasing an additional 257,056 shares during the period. AQR Capital Management LLC lifted its position in shares of Ziff Davis by 453.7% in the second quarter. AQR Capital Management LLC now owns 278,564 shares of the technology company’s stock valued at $15,204,000 after acquiring an additional 228,257 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Ziff Davis in the third quarter valued at approximately $7,210,000. Public Sector Pension Investment Board acquired a new stake in shares of Ziff Davis in the third quarter worth approximately $4,618,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Ziff Davis during the third quarter worth approximately $4,263,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Ziff Davis Price Performance

Ziff Davis stock opened at $58.85 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 company has a 50-day moving average price of $50.08 and a 200 day moving average price of $50.36. Ziff Davis, Inc. has a 12-month low of $37.76 and a 12-month high of $70.90. The stock has a market cap of $2.52 billion, a P/E ratio of 49.87 and a beta of 1.29.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a report on Friday, September 6th. Citigroup dropped their price objective on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Barclays raised their target price on shares of Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.29.

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.