Citigroup Inc. Acquires 74,256 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Citigroup Inc. increased its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 804.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,490 shares of the technology company’s stock after acquiring an additional 74,256 shares during the period. Citigroup Inc.’s holdings in Zillow Group were worth $3,649,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ZG. PNC Financial Services Group Inc. grew its position in Zillow Group by 69.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the technology company’s stock worth $53,000 after acquiring an additional 441 shares during the last quarter. Point72 Middle East FZE bought a new position in Zillow Group in the 4th quarter valued at $64,000. Advisors Asset Management Inc. boosted its position in Zillow Group by 132.4% in the 4th quarter. Advisors Asset Management Inc. now owns 3,305 shares of the technology company’s stock valued at $103,000 after buying an additional 1,883 shares during the last quarter. Prudential PLC bought a new position in Zillow Group in the 1st quarter valued at $144,000. Finally, Franklin Resources Inc. boosted its position in Zillow Group by 22.8% in the 4th quarter. Franklin Resources Inc. now owns 4,673 shares of the technology company’s stock valued at $146,000 after buying an additional 867 shares during the last quarter. 18.94% of the stock is currently owned by institutional investors.

Insider Activity at Zillow Group

In related news, insider Errol G. Samuelson sold 19,000 shares of Zillow Group stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $52.66, for a total value of $1,000,540.00. Following the sale, the insider now owns 131,455 shares of the company’s stock, valued at $6,922,420.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Jeremy Wacksman sold 4,682 shares of Zillow Group stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $53.71, for a total transaction of $251,470.22. Following the completion of the transaction, the chief operating officer now owns 88,574 shares in the company, valued at $4,757,309.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Errol G. Samuelson sold 19,000 shares of Zillow Group stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $52.66, for a total value of $1,000,540.00. Following the transaction, the insider now owns 131,455 shares of the company’s stock, valued at approximately $6,922,420.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,745 shares of company stock valued at $4,313,262. 17.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ZG has been the topic of several recent research reports. Piper Sandler raised their price target on Zillow Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. 22nd Century Group restated a “maintains” rating on shares of Zillow Group in a research report on Friday, June 30th. Wedbush raised their price target on Zillow Group from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Royal Bank of Canada raised their price target on Zillow Group from $50.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Finally, Barclays raised their price objective on Zillow Group from $30.00 to $36.00 and gave the stock an “underweight” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.11.

Zillow Group Trading Up 0.9 %

NASDAQ:ZG opened at $51.40 on Monday. The company has a quick ratio of 10.90, a current ratio of 10.90 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $51.32 and its 200 day simple moving average is $46.34. Zillow Group, Inc. has a 52-week low of $26.21 and a 52-week high of $55.68.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 2nd. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.21. The business had revenue of $506.00 million for the quarter, compared to the consensus estimate of $473.04 million. Zillow Group had a negative return on equity of 2.78% and a negative net margin of 9.61%. On average, analysts forecast that Zillow Group, Inc. will post -0.77 EPS for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.