Ninety One UK Ltd bought a new position in Zillow Group, Inc. (NASDAQ:ZG – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,787 shares of the technology company’s stock, valued at approximately $548,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ninety One SA Pty Ltd purchased a new stake in shares of Zillow Group during the 3rd quarter valued at about $26,000. Tidal Investments LLC bought a new position in shares of Zillow Group in the 2nd quarter worth approximately $436,000. Engineers Gate Manager LP lifted its stake in shares of Zillow Group by 1,290.7% in the 2nd quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock worth $3,010,000 after purchasing an additional 89,059 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Zillow Group in the 2nd quarter worth approximately $29,000. Finally, Arizona State Retirement System purchased a new position in shares of Zillow Group in the second quarter worth approximately $340,000. 20.32% of the stock is owned by hedge funds and other institutional investors.
Zillow Group Stock Up 10.8%
Shares of ZG opened at $32.43 on Friday. The business has a 50-day simple moving average of $32.58 and a two-hundred day simple moving average of $35.37. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 147.42, a PEG ratio of 1.27 and a beta of 2.02. Zillow Group, Inc. has a 52 week low of $27.25 and a 52 week high of $76.32.
Zillow Group (NASDAQ:ZG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. During the same quarter last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $80.00 target price on shares of Zillow Group in a research report on Monday, August 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. Piper Sandler decreased their price target on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. UBS Group dropped their price target on shares of Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.19.
Read Our Latest Research Report on Zillow Group
Insider Activity at Zillow Group
In related news, insider Dan Spaulding sold 3,169 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider directly owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Beitel sold 1,798 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $61,563.52. Following the sale, the chief technology officer owned 133,013 shares in the company, valued at approximately $4,554,365.12. The trade was a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 38,539 shares of company stock worth $1,323,800 in the last quarter. 29.88% of the stock is currently owned by insiders.
Zillow Group Company Profile
Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers buy, sell, rent and finance homes. Founded in 2006 and headquartered in Seattle, Washington, the company serves the U.S. residential real estate market through a portfolio of well-known brands.
Its flagship Zillow platform provides home listings, property information, estimated home values through its Zestimate tool, rental listings, mortgage resources and connections to real estate professionals.
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