Allspring Global Investments Holdings LLC Sells 47,131 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Allspring Global Investments Holdings LLC cut its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 9.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 472,703 shares of the technology company’s stock after selling 47,131 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ziff Davis were worth $23,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Rothschild Investment LLC bought a new stake in shares of Ziff Davis in the 2nd quarter worth approximately $25,000. Quest Partners LLC purchased a new stake in Ziff Davis in the second quarter worth $38,000. Innealta Capital LLC bought a new stake in shares of Ziff Davis in the second quarter valued at $75,000. Blue Trust Inc. lifted its position in shares of Ziff Davis by 72.4% during the 2nd quarter. Blue Trust Inc. now owns 1,686 shares of the technology company’s stock valued at $93,000 after buying an additional 708 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Ziff Davis during the 2nd quarter worth $93,000. 99.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Barclays lowered 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 report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.50.

Ziff Davis Trading Up 0.1 %

Shares of Ziff Davis stock opened at $46.05 on Friday. The company’s 50-day moving average price is $47.15 and its 200-day moving average price is $50.32. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.54. Ziff Davis, Inc. has a 12-month low of $37.76 and a 12-month high of $70.90. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 38.06 and a beta of 1.29.

Ziff Davis (NASDAQ:ZD) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Ziff Davis had a return on equity of 13.81% and a net margin of 5.86%. The firm had revenue of $320.80 million for the quarter, compared to the consensus estimate of $332.44 million. During the same period last year, the company posted $1.12 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts expect that Ziff Davis, Inc. will post 6.1 earnings per share for the current fiscal 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.