Proficio Capital Partners LLC Purchases New Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Proficio Capital Partners LLC purchased a new stake in Ziff Davis, Inc. (NASDAQ:ZD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,246 shares of the technology company’s stock, valued at approximately $1,426,000.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Ziff Davis by 69.8% during the third quarter. Victory Capital Management Inc. now owns 53,905 shares of the technology company’s stock valued at $2,623,000 after purchasing an additional 22,155 shares in the last quarter. Franklin Resources Inc. acquired a new position in Ziff Davis during the third quarter valued at approximately $986,000. Virtu Financial LLC acquired a new position in Ziff Davis during the third quarter valued at approximately $503,000. Principal Financial Group Inc. raised its position in Ziff Davis by 36.4% during the third quarter. Principal Financial Group Inc. now owns 210,989 shares of the technology company’s stock valued at $10,267,000 after purchasing an additional 56,352 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Ziff Davis during the third quarter worth $1,460,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Ziff Davis Stock Up 0.2 %

Shares of NASDAQ:ZD opened at $41.97 on Friday. The firm has a market cap of $1.80 billion, a P/E ratio of 35.57 and a beta of 1.42. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. Ziff Davis, Inc. has a 12-month low of $37.62 and a 12-month high of $63.95. The business has a fifty day simple moving average of $48.62 and a 200 day simple moving average of $50.75.

Insider Buying and Selling

In other Ziff Davis news, Director Sarah Ann Fay purchased 1,282 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the acquisition, the director now owns 18,655 shares in the company, valued at approximately $727,545. The trade was a 7.38 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Brian Kretzmer purchased 653 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $38.33 per share, with a total value of $25,029.49. Following the completion of the acquisition, the director now owns 12,968 shares in the company, valued at approximately $497,063.44. This trade represents a 5.30 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 5,028 shares of company stock valued at $198,024 in the last three months. Insiders own 2.08% of the company’s stock.

Analysts Set New Price Targets

ZD has been the subject of several research analyst reports. UBS Group lowered their price target on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Citigroup lowered their price target on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.67.

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.