Wellington Management Group LLP Sells 14,113 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Wellington Management Group LLP decreased its position in Ziff Davis, Inc. (NASDAQ:ZD) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 330,550 shares of the technology company’s stock after selling 14,113 shares during the quarter. Wellington Management Group LLP owned approximately 0.77% of Ziff Davis worth $16,085,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of 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 during the last quarter. Empowered Funds LLC bought a new position in Ziff Davis during the 3rd quarter valued at approximately $7,210,000. Rice Hall James & Associates LLC raised its stake in Ziff Davis by 11.0% during the third quarter. Rice Hall James & Associates LLC now owns 501,313 shares of the technology company’s stock valued at $24,394,000 after buying an additional 49,510 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in Ziff Davis in the third quarter worth $1,460,000. Finally, Principal Financial Group Inc. boosted its holdings in Ziff Davis by 36.4% in the third quarter. Principal Financial Group Inc. now owns 210,989 shares of the technology company’s stock worth $10,267,000 after acquiring an additional 56,352 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Ziff Davis Stock Performance

Shares of NASDAQ ZD opened at $57.75 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average price is $52.32 and its 200-day moving average price is $50.55. Ziff Davis, Inc. has a 52-week low of $37.76 and a 52-week high of $70.90. The company has a market cap of $2.47 billion, a PE ratio of 48.94 and a beta of 1.35.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group lowered their price target on Ziff Davis from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Barclays upped their target price on shares of Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Ziff Davis in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.71.

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.