Envestnet Asset Management Inc. Grows Stake in Zillow Group, Inc. (NASDAQ:ZG)

Envestnet Asset Management Inc. raised its position in Zillow Group, Inc. (NASDAQ:ZG) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,137 shares of the technology company’s stock after buying an additional 600 shares during the period. Envestnet Asset Management Inc.’s holdings in Zillow Group were worth $364,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd acquired a new position in Zillow Group during the fourth quarter worth about $27,000. Blue Trust Inc. increased its holdings in shares of Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after purchasing an additional 172 shares during the last quarter. Asset Dedication LLC purchased a new position in Zillow Group during the fourth quarter worth approximately $47,000. Assetmark Inc. boosted its stake in Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after buying an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after buying an additional 159 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Stock Down 1.0 %

NASDAQ:ZG opened at $66.98 on Tuesday. Zillow Group, Inc. has a 52 week low of $38.40 and a 52 week high of $86.58. The company has a fifty day simple moving average of $66.89 and a two-hundred day simple moving average of $71.10. The company has a market cap of $16.25 billion, a price-to-earnings ratio of -142.51, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZG shares. KeyCorp lowered their price target on shares of Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Piper Sandler cut their price target on shares of Zillow Group from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, April 28th. DA Davidson reiterated a “buy” rating and issued a $90.00 price objective on shares of Zillow Group in a research report on Friday, April 11th. Robert W. Baird initiated coverage on Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 target price for the company. Finally, Citigroup lowered their price target on Zillow Group from $98.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and an average price target of $80.10.

Insider Buying and Selling

In related news, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now owns 142,636 shares of the company’s stock, valued at $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jun Choo sold 55,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,919 shares of company stock worth $5,744,978. Company 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.