Scientech Research LLC Acquires Shares of 4,693 Zillow Group, Inc. (NASDAQ:ZG)

Scientech Research LLC acquired a new position in Zillow Group, Inc. (NASDAQ:ZG) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,693 shares of the technology company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in shares of Zillow Group in the first quarter worth $32,000. EntryPoint Capital LLC acquired a new stake in Zillow Group during the first quarter valued at approximately $53,000. Signaturefd LLC lifted its holdings in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Zillow Group in the 1st quarter worth approximately $84,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Zillow Group in the 1st quarter worth approximately $118,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZG has been the topic of a number of research reports. Citigroup increased their target price on shares of Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Craig Hallum upped their target price on Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Evercore ISI raised their target price on Zillow Group from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Susquehanna upped their price target on shares of Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.94.

Zillow Group Stock Performance

NASDAQ:ZG opened at $62.71 on Wednesday. The company has a 50-day moving average of $53.66 and a 200-day moving average of $47.75. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of -90.88 and a beta of 2.00. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a twelve month low of $33.23 and a twelve month high of $66.75.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. During the same quarter last year, the company posted ($0.05) EPS. Zillow Group’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,999 shares of company stock valued at $11,780,363. Insiders own 17.14% of the company’s stock.

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.