Key Points

CFO Bret Richter sold 18,000 shares for a transaction value of approximately $844,000 on June 10, 2026.
This sale represented 38% of his direct holdings, reducing direct ownership to 29,244 shares (0.08% of shares outstanding).
The transaction involved only direct, non-derivative shares; no indirect holdings or derivative exercises were reported.

Bret Richter, Chief Financial Officer of Ziff Davis (NASDAQ:ZD), reported the sale of 18,000 shares of Common Stock in an open-market transaction on June 10, 2026, according to an SEC Form 4 filing.

Transaction summary

Metric	Value
Shares sold (direct)	18,000
Transaction value	$843,840
Post-transaction shares (direct)	29,244
Post-transaction value (direct ownership)	$1.34 million

Transaction value based on SEC Form 4 reported price ($46.88); post-transaction value based on June 10, 2026 market close.

Key questions

How does the size of this transaction compare to Richter’s prior trading activity?
This is Richter’s first open-market sale in the past two years, with his previous transactions limited to administrative events and a 2,500-share purchase in March 2025.
What proportion of Richter’s holdings were sold, and what does he retain post-transaction?
The sale accounted for 38.1% of direct holdings, leaving him with 29,244 shares directly owned and no indirect or derivative positions reported.
Was the share sale executed at a premium, discount, or in line with prevailing market prices?
The shares were sold at $46.88 per share, which was slightly above the June 10, 2026, market close of $45.80.
Is there evidence of a trend or pattern in Richter’s trading cadence?
With only one sell transaction and no recurring sales pattern, this event appears as a discrete liquidity action rather than part of a systematic selling program.

Company overview

Metric	Value
Revenue (TTM)	$1.39 billion
Net income (TTM)	$45.38 million
Employees	3,800
1-year price change	50.29%

* 1-year price change calculated as of June 10, 2026.

Company snapshot

Ziff Davis operates digital media platforms such as IGN, RetailMeNot, Mashable, PCMag, Humble Bundle, and Speedtest, as well as cloud-based cybersecurity and marketing technology services.
It generates revenue primarily through advertising, subscription services, and digital commerce across its media and technology assets.
The company serves a global user base including consumers, businesses, and advertisers seeking online information, entertainment, and digital security solutions.

Ziff Davis is a diversified digital media and technology company with a global footprint, serving both consumers and enterprises through its portfolio of leading online brands and cloud-based solutions. The company leverages a dual-segment strategy - digital media and cybersecurity/martech - to capture value from advertising, subscriptions, and digital transactions.

What this transaction means for investors

Ziff Davis CFO Bret Richter’s sale of 18,000 company shares came at a time when the stock was on an upswing. Shares eventually reached a 52-week high of $53.43 on July 1. While he retained over 29,000 shares after the June 10 disposition, Richter dumped a sizable 38% of his directly-held stock in this transaction.

Shares soared in March after Ziff Davis announced it was selling its connectivity division for $1.2 billion in cash. That’s a substantial windfall, considering the company generated $267.6 million in the first quarter from its continuing operations, down from $272.8 million in 2025. Ziff Davis declined to provide a forecast for Q2 sales as it works with outside advisors to evaluate next steps for its business.

The combination of Richter’s large sale when shares were skyrocketing, Ziff Davis’ Q1 year-over-year revenue decline, and the uncertainty around the company’s next move after divesting its connectivity segment are not comforting signals for investors.

Should you buy stock in Ziff Davis right now?

Before you buy stock in Ziff Davis, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ziff Davis wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $418,761!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,195,804!*

Now, it’s worth noting Stock Advisor’s total average return is 918% - a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.

See the 10 stocks »

*Stock Advisor returns as of July 4, 2026.

Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.