California Public Employees Retirement System Raises Position in Zillow Group, Inc. (NASDAQ:ZG)

California Public Employees Retirement System raised its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 5.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 132,332 shares of the technology company’s stock after acquiring an additional 6,951 shares during the period. California Public Employees Retirement System’s holdings in Zillow Group were worth $9,376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after buying an additional 172 shares during the last quarter. Asset Dedication LLC bought a new position in Zillow Group in the fourth quarter valued at $47,000. Assetmark Inc. raised its position in Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after purchasing an additional 755 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Zillow Group in the 4th quarter worth about $63,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Price Performance

NASDAQ:ZG opened at $65.32 on Monday. Zillow Group, Inc. has a 1-year low of $38.06 and a 1-year high of $86.58. The company has a market capitalization of $15.84 billion, a PE ratio of -138.98, a P/E/G ratio of 8.90 and a beta of 2.22. The firm’s 50-day moving average price is $73.99 and its 200-day moving average price is $70.96.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Equities analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 5,796 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total transaction of $437,598.00. Following the completion of the sale, the chief accounting officer now directly owns 51,370 shares in the company, valued at approximately $3,878,435. This trade represents a 10.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Errol G. Samuelson sold 2,854 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the completion of the transaction, the insider now owns 142,636 shares in the company, valued at approximately $10,460,924.24. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,919 shares of company stock worth $7,869,478. 17.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ZG. Piper Sandler lowered their price objective on shares of Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. JMP Securities upped their price target on shares of Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods upgraded Zillow Group to a “hold” rating in a report on Friday, March 28th. Susquehanna increased their target price on Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Bank of America boosted their price objective on Zillow Group from $81.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.