Zillow Group, Inc. (NASDAQ:ZG) Stock Position Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Zillow Group, Inc. (NASDAQ:ZG) by 9,124.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,220 shares of the technology company’s stock after buying an additional 120,895 shares during the period. GAMMA Investing LLC owned approximately 0.05% of Zillow Group worth $8,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Zillow Group by 136.3% during the fourth quarter. Victory Capital Management Inc. now owns 22,982 shares of the technology company’s stock valued at $1,628,000 after purchasing an additional 13,255 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Zillow Group by 4.9% during the fourth quarter. Vontobel Holding Ltd. now owns 17,208 shares of the technology company’s stock valued at $1,219,000 after purchasing an additional 801 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Zillow Group by 2.5% during the fourth quarter. Northern Trust Corp now owns 247,078 shares of the technology company’s stock valued at $17,505,000 after purchasing an additional 6,088 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Zillow Group during the fourth quarter valued at $228,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Zillow Group by 21.5% during the fourth quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company’s stock valued at $998,000 after purchasing an additional 2,490 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 142,636 shares of the company’s stock, valued at approximately $10,460,924.24. This represents a 1.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Rock sold 5,997 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total value of $408,155.82. Following the completion of the transaction, the chief accounting officer now directly owns 58,320 shares of the company’s stock, valued at approximately $3,969,259.20. The trade was a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,741 shares of company stock worth $7,114,134 in the last 90 days. 17.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays reduced their target price on Zillow Group from $64.00 to $60.00 and set an “underweight” rating for the company in a report on Thursday, May 8th. Cantor Fitzgerald upped their price target on Zillow Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Wells Fargo & Company began coverage on Zillow Group in a research report on Monday, April 28th. They set a “mixed” rating and a $62.00 price target on the stock. Citigroup dropped their price target on Zillow Group from $98.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, William Blair began coverage on Zillow Group in a research report on Monday, April 21st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.80.

Zillow Group Stock Performance

ZG opened at $69.41 on Monday. The company has a market cap of $16.76 billion, a PE ratio of -147.68, a price-to-earnings-growth ratio of 8.90 and a beta of 2.11. The stock has a 50-day moving average of $65.27 and a 200-day moving average of $71.47. Zillow Group, Inc. has a 52-week low of $40.30 and a 52-week high of $86.58.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.06). The company had revenue of $598.00 million for the quarter, compared to the consensus estimate of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. On average, research analysts predict that Zillow Group, Inc. will post 0.32 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.