JPMorgan Chase & Co. Acquires 20,238 Shares of Zillow Group, Inc. (NASDAQ:ZG)

JPMorgan Chase & Co. increased its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 155.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,258 shares of the technology company’s stock after purchasing an additional 20,238 shares during the quarter. JPMorgan Chase & Co.’s holdings in Zillow Group were worth $2,060,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZG. Cynosure Group LLC bought a new stake in Zillow Group during the third quarter valued at $12,248,000. Mirabella Financial Services LLP acquired a new position in shares of Zillow Group during the third quarter valued at about $11,351,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Zillow Group in the 3rd quarter worth about $9,813,000. Virtu Financial LLC raised its holdings in shares of Zillow Group by 132.1% in the 3rd quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock worth $12,929,000 after acquiring an additional 118,830 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in shares of Zillow Group by 164.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock worth $11,129,000 after acquiring an additional 111,743 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $75.02 on Wednesday. The firm’s fifty day moving average price is $74.83 and its 200-day moving average price is $62.27. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The stock has a market cap of $17.52 billion, a P/E ratio of -131.61, a price-to-earnings-growth ratio of 12.81 and a beta of 2.09. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $83.67.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS. On average, equities research analysts expect that Zillow Group, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ZG. Evercore ISI upped their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $47.00 price objective on shares of Zillow Group in a research note on Monday, October 7th. Finally, UBS Group increased their price objective on shares of Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 4,565 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $86.22, for a total transaction of $393,594.30. Following the transaction, the insider now owns 58,217 shares in the company, valued at approximately $5,019,469.74. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Rock sold 3,033 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $82.78, for a total value of $251,071.74. Following the transaction, the chief accounting officer now owns 57,166 shares in the company, valued at $4,732,201.48. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,689 shares of company stock valued at $10,395,879 in the last 90 days. 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.