State Street Corp Has $91.06 Million Position in Ziff Davis, Inc. (NASDAQ:ZD)

State Street Corp cut its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 85.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,871,318 shares of the technology company’s stock after selling 10,641,205 shares during the quarter. State Street Corp’s holdings in Ziff Davis were worth $91,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Petrus Trust Company LTA acquired a new position in Ziff Davis during the 3rd quarter worth about $781,000. Janus Henderson Group PLC lifted its stake in shares of Ziff Davis by 2.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,214,600 shares of the technology company’s stock valued at $156,422,000 after purchasing an additional 62,261 shares during the period. Holocene Advisors LP lifted its stake in shares of Ziff Davis by 46.3% in the 3rd quarter. Holocene Advisors LP now owns 64,755 shares of the technology company’s stock valued at $3,151,000 after purchasing an additional 20,491 shares during the period. Maverick Capital Ltd. lifted its stake in shares of Ziff Davis by 34.6% in the 3rd quarter. Maverick Capital Ltd. now owns 42,039 shares of the technology company’s stock valued at $2,046,000 after purchasing an additional 10,797 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Ziff Davis in the 3rd quarter valued at about $3,115,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Ziff Davis Stock Performance

Shares of Ziff Davis stock opened at $57.90 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50-day simple moving average of $52.60 and a 200 day simple moving average of $50.53. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 49.07 and a beta of 1.35. Ziff Davis, Inc. has a one year low of $37.76 and a one year high of $70.90.

Analysts Set New Price Targets

ZD has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a research note on Friday, September 6th. Barclays boosted their price objective 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. Finally, UBS Group decreased their target price 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.71.

Ziff Davis 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.