Nordea Investment Management AB Sells 228,902 Shares of Ziff Davis, Inc. $ZD

Nordea Investment Management AB lessened its position in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 766,255 shares of the technology company’s stock after selling 228,902 shares during the period. Nordea Investment Management AB owned 1.94% of Ziff Davis worth $27,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Ziff Davis by 207.1% in the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock valued at $32,000 after acquiring an additional 611 shares during the period. First Horizon Corp purchased a new stake in Ziff Davis during the third quarter valued at about $35,000. Blue Trust Inc. boosted its position in Ziff Davis by 30.2% during the third quarter. Blue Trust Inc. now owns 1,273 shares of the technology company’s stock worth $49,000 after purchasing an additional 295 shares during the period. Tower Research Capital LLC TRC boosted its position in Ziff Davis by 568.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,568 shares of the technology company’s stock worth $138,000 after purchasing an additional 3,885 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Ziff Davis in the second quarter worth about $145,000. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ZD shares. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of Ziff Davis in a research note on Tuesday, February 24th. Evercore reissued an “outperform” rating and set a $46.00 target price on shares of Ziff Davis in a report on Tuesday, February 24th. JPMorgan Chase & Co. dropped their target price on Ziff Davis from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, Barclays raised their price target on Ziff Davis from $34.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Ziff Davis has an average rating of “Hold” and a consensus price target of $41.13.

Ziff Davis Price Performance

Shares of NASDAQ:ZD opened at $43.81 on Wednesday. The company has a 50 day moving average of $36.36 and a 200 day moving average of $35.73. The stock has a market cap of $1.65 billion, a P/E ratio of 39.83 and a beta of 1.50. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $50.55. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.41.

About Ziff Davis

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.