Envestnet Asset Management Inc. Boosts Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Envestnet Asset Management Inc. boosted its stake in Zillow Group, Inc. (NASDAQ:ZG) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,137 shares of the technology company’s stock after acquiring an additional 600 shares during the period. Envestnet Asset Management Inc.’s holdings in Zillow Group were worth $364,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ZG. O Shaughnessy Asset Management LLC raised its position in Zillow Group by 13.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock valued at $84,000 after purchasing an additional 138 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Zillow Group by 24.0% in the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after purchasing an additional 159 shares during the period. Blue Trust Inc. raised its holdings in shares of Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after buying an additional 172 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Zillow Group during the fourth quarter worth about $27,000. Finally, Baillie Gifford & Co. lifted its position in Zillow Group by 0.6% during the 4th quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company’s stock worth $6,520,000 after acquiring an additional 509 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Insider Activity

In other news, CTO David A. Beitel sold 2,025 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.75, for a total value of $157,443.75. Following the transaction, the chief technology officer now owns 151,046 shares of the company’s stock, valued at approximately $11,743,826.50. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jun Choo sold 1,277 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the sale, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at approximately $6,750,215.16. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,919 shares of company stock valued at $5,744,978 in the last ninety days. Company insiders own 17.14% of the company’s stock.

Zillow Group Trading Down 1.0 %

Zillow Group stock opened at $66.98 on Tuesday. The stock has a fifty day moving average price of $66.89 and a 200 day moving average price of $71.10. Zillow Group, Inc. has a 52 week low of $38.40 and a 52 week high of $86.58. The firm has a market capitalization of $16.25 billion, a P/E ratio of -142.51, a PEG ratio of 8.90 and a beta of 2.22.

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

Wall Street Analyst Weigh In

ZG has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their target price on shares of Zillow Group from $86.00 to $76.00 and set a “hold” rating for the company in a research note on Monday. Susquehanna lifted their price objective on Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. William Blair started coverage on Zillow Group in a research note on Monday, April 21st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods raised Zillow Group to a “hold” rating in a report on Friday, March 28th. Finally, Cantor Fitzgerald upped their price objective on Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.10.

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.