Vanguard Group Inc. Increases Position in Zillow Group, Inc. (NASDAQ:ZG)

Vanguard Group Inc. increased its stake in Zillow Group, Inc. (NASDAQ:ZG) by 0.8% in the 1st quarter, Holdings Channel reports. The fund owned 7,002,693 shares of the technology company’s stock after buying an additional 57,693 shares during the quarter. Vanguard Group Inc.’s holdings in Zillow Group were worth $468,200,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Zillow Group by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company’s stock worth $31,578,000 after purchasing an additional 27,345 shares during the last quarter. Selkirk Management LLC lifted its stake in Zillow Group by 14.0% in the fourth quarter. Selkirk Management LLC now owns 365,800 shares of the technology company’s stock worth $25,917,000 after purchasing an additional 45,000 shares during the last quarter. Northern Trust Corp lifted its stake in Zillow Group by 2.5% in the fourth quarter. Northern Trust Corp now owns 247,078 shares of the technology company’s stock worth $17,505,000 after purchasing an additional 6,088 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Zillow Group in the fourth quarter worth $14,916,000. Finally, Sone Capital Management LLC bought a new stake in Zillow Group in the fourth quarter worth $11,185,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on ZG shares. JPMorgan Chase & Co. boosted their price target on shares of Zillow Group from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. DA Davidson boosted their price target on shares of Zillow Group from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Piper Sandler boosted their price target on shares of Zillow Group from $82.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Canaccord Genuity Group set a $84.00 price target on shares of Zillow Group and gave the stock a “hold” rating in a research note on Thursday, August 7th. Finally, Benchmark lowered their price target on shares of Zillow Group from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.62.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $81.36 on Friday. Zillow Group, Inc. has a 1 year low of $50.65 and a 1 year high of $86.58. The company’s 50-day moving average is $73.54 and its 200 day moving average is $70.89. The stock has a market capitalization of $19.64 billion, a P/E ratio of -312.92, a P/E/G ratio of 13.24 and a beta of 2.07.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The company had revenue of $655.00 million for the quarter, compared to analysts’ expectations of $647.06 million. During the same quarter in the prior year, the firm earned $0.39 EPS. Zillow Group’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.91, for a total value of $8,591,000.00. Following the sale, the insider owned 68,889 shares in the company, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jun Choo sold 45,710 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the completion of the sale, the chief operating officer owned 117,098 shares in the company, valued at approximately $9,977,920.58. This trade represents a 28.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,379 shares of company stock valued at $19,483,729 over the last three months. Corporate insiders own 17.14% of the company’s stock.

Zillow Group Company Profile

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.