Bridgewater Associates LP Sells 72,077 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Bridgewater Associates LP cut its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 93.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,017 shares of the technology company’s stock after selling 72,077 shares during the quarter. Bridgewater Associates LP’s holdings in Ziff Davis were worth $244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. increased its holdings in Ziff Davis by 1.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 17,598 shares of the technology company’s stock valued at $856,000 after purchasing an additional 250 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Ziff Davis by 2.2% in the second quarter. Arizona State Retirement System now owns 12,913 shares of the technology company’s stock valued at $711,000 after buying an additional 275 shares during the last quarter. Rothschild Investment LLC acquired a new position in Ziff Davis during the 2nd quarter worth about $25,000. Central Pacific Bank Trust Division grew its holdings in Ziff Davis by 21.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,730 shares of the technology company’s stock worth $133,000 after acquiring an additional 480 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Ziff Davis by 3.3% in the 2nd quarter. QRG Capital Management Inc. now owns 18,213 shares of the technology company’s stock valued at $1,003,000 after acquiring an additional 590 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ZD has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Ziff Davis in a research report on Friday, September 6th. Barclays lifted their target price on Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group cut their price target on Ziff Davis from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Citigroup lowered their price objective on Ziff Davis from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.71.

Ziff Davis Stock Performance

Shares of ZD opened at $59.42 on Wednesday. The firm has a market cap of $2.54 billion, a P/E ratio of 50.36 and a beta of 1.35. Ziff Davis, Inc. has a twelve month low of $37.76 and a twelve month high of $70.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42. The firm’s 50 day moving average price is $50.28 and its two-hundred day moving average price is $50.33.

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.