Private Advisor Group LLC Takes Position in Zillow Group, Inc. (NASDAQ:ZG)

Private Advisor Group LLC purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,064 shares of the technology company’s stock, valued at approximately $747,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Zillow Group by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after acquiring an additional 35,503 shares during the last quarter. Selkirk Management LLC increased its position in Zillow Group by 37.4% during the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after acquiring an additional 87,300 shares during the last quarter. US Bancorp DE increased its position in Zillow Group by 42.6% during the first quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock valued at $11,775,000 after acquiring an additional 73,504 shares during the last quarter. Raymond James & Associates increased its position in Zillow Group by 7.0% during the second quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock valued at $8,694,000 after acquiring an additional 12,616 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Zillow Group by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 162,647 shares of the technology company’s stock valued at $7,326,000 after acquiring an additional 7,311 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $57.67 on Friday. The stock has a 50 day moving average of $58.73 and a 200 day moving average of $49.76. Zillow Group, Inc. has a 12 month low of $33.23 and a 12 month high of $66.75. The firm has a market cap of $13.35 billion, a PE ratio of -94.54 and a beta of 2.02. 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 (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The business had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. On average, research analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZG has been the subject of a number of research reports. Benchmark upped their price objective on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. UBS Group upped their price target on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI upped their price target on Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Citigroup upped their price target on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.53.

Insider Activity

In other news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 582 shares of the company’s stock, valued at $29,583.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock valued at $11,780,363 in the last ninety days. Insiders own 17.14% of the company’s stock.

Zillow Group 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.