Allspring Global Investments Holdings LLC Sells 7,260 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Allspring Global Investments Holdings LLC decreased its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 670,940 shares of the technology company’s stock after selling 7,260 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.45% of Ziff Davis worth $42,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Ziff Davis by 362.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 513 shares of the technology company’s stock valued at $34,000 after purchasing an additional 402 shares during the period. OLD Point Trust & Financial Services N A bought a new position in Ziff Davis in the fourth quarter worth approximately $34,000. Headinvest LLC acquired a new stake in Ziff Davis in the third quarter valued at approximately $44,000. First Horizon Advisors Inc. increased 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 valued at $46,000 after acquiring an additional 167 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Ziff Davis by 31.5% during the fourth quarter. Blue Trust Inc. now owns 851 shares of the technology company’s stock worth $54,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ZD has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 price target for the company in a research note on Thursday, May 2nd. Barclays dropped their price target on shares of Ziff Davis from $68.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Citigroup dropped their target price on Ziff Davis from $74.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Wedbush decreased their price target on Ziff Davis from $78.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Ziff Davis currently has a consensus rating of “Moderate Buy” and an average price target of $75.13.

Ziff Davis Stock Up 2.4 %

ZD stock opened at $54.35 on Thursday. The stock has a market cap of $2.51 billion, a P/E ratio of 44.92 and a beta of 1.29. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $54.90 and its two-hundred day simple moving average is $61.01. Ziff Davis, Inc. has a 1-year low of $49.50 and a 1-year high of $75.58.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.05. The company had revenue of $314.49 million during the quarter, compared to analyst estimates of $317.71 million. Ziff Davis had a net margin of 4.36% and a return on equity of 14.26%. Analysts expect that Ziff Davis, Inc. will post 6.09 EPS for the current year.

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.