Allspring Global Investments Holdings LLC Decreases Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Allspring Global Investments Holdings LLC lowered its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,834 shares of the technology company’s stock after selling 151,106 shares during the period. Allspring Global Investments Holdings LLC owned about 1.13% of Ziff Davis worth $28,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Ziff Davis by 5,392.5% during the fourth quarter. International Assets Investment Management LLC now owns 13,841 shares of the technology company’s stock valued at $930,000 after acquiring an additional 13,589 shares during the last quarter. Signaturefd LLC raised its stake in Ziff Davis by 86.2% in the 4th quarter. Signaturefd LLC now owns 996 shares of the technology company’s stock valued at $67,000 after purchasing an additional 461 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Ziff Davis by 3.2% in the 4th quarter. Russell Investments Group Ltd. now owns 79,586 shares of the technology company’s stock valued at $5,347,000 after purchasing an additional 2,445 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Ziff Davis by 212.4% in the 4th quarter. Retirement Systems of Alabama now owns 181,314 shares of the technology company’s stock valued at $12,182,000 after purchasing an additional 123,275 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Ziff Davis by 32.2% during the fourth quarter. First Horizon Advisors Inc. now owns 686 shares of the technology company’s stock worth $46,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ZD shares. Barclays decreased their price target on shares of Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Citigroup lowered their target price on Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. raised Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 price target for the company in a report on Thursday, May 2nd. Finally, Wedbush reduced their price objective on Ziff Davis from $78.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ziff Davis has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

Ziff Davis Trading Down 0.1 %

ZD opened at $47.07 on Wednesday. The stock has a market capitalization of $2.17 billion, a PE ratio of 38.90 and a beta of 1.29. Ziff Davis, Inc. has a one year low of $37.76 and a one year high of $70.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50 day moving average price is $48.33 and its 200 day moving average price is $55.32.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.08). The business had revenue of $320.80 million during the quarter, compared to analyst estimates of $332.44 million. Ziff Davis had a net margin of 4.36% and a return on equity of 14.26%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. As a group, equities research analysts expect that Ziff Davis, Inc. will post 6.09 EPS for the current year.

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.