Zillow Group, Inc. (NASDAQ:ZG) Shares Bought by abrdn plc

abrdn plc lifted its position in Zillow Group, Inc. (NASDAQ:ZG) by 110.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,328 shares of the technology company’s stock after buying an additional 9,633 shares during the quarter. abrdn plc’s holdings in Zillow Group were worth $1,004,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ZG. Qube Research & Technologies Ltd boosted its holdings in Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares during the period. Invesco Ltd. increased its stake in shares of Zillow Group by 322.7% during the third quarter. Invesco Ltd. now owns 149,822 shares of the technology company’s stock worth $6,711,000 after buying an additional 114,377 shares during the period. Assenagon Asset Management S.A. raised its holdings in Zillow Group by 160.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 49,939 shares of the technology company’s stock valued at $2,833,000 after acquiring an additional 30,747 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Zillow Group during the 4th quarter worth approximately $1,305,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $873,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

ZG has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Zillow Group in a report on Tuesday, March 5th. DA Davidson reaffirmed a “buy” rating and issued a $63.00 price target on shares of Zillow Group in a report on Friday, April 5th. Benchmark boosted their price objective on shares of Zillow Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Bank of America lowered shares of Zillow Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $79.00 price objective on shares of Zillow Group in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.20.

Insider Buying and Selling

In other news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at approximately $320,411.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Zillow Group news, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the sale, the general counsel now owns 17,181 shares of the company’s stock, valued at $996,669.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Bohutinsky sold 93,750 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $320,411.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,289 shares of company stock valued at $9,642,508. Corporate insiders own 17.14% of the company’s stock.

Zillow Group Price Performance

Shares of ZG opened at $43.11 on Tuesday. The firm has a market capitalization of $10.06 billion, a PE ratio of -63.40 and a beta of 1.83. The stock’s 50 day moving average is $48.30 and its two-hundred day moving average is $47.65. Zillow Group, Inc. has a twelve month low of $33.23 and a twelve month high of $59.23. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. The firm had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. Research analysts anticipate that Zillow Group, Inc. will post -0.15 earnings per share for the current year.

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.