CX Institutional Buys New Position in Zillow Group, Inc. (NASDAQ:ZG)

CX Institutional bought a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 689 shares of the technology company’s stock, valued at approximately $46,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in shares of Zillow Group by 13.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock worth $84,000 after acquiring an additional 138 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of 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 purchasing an additional 159 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Zillow Group during the 4th quarter valued at $27,000. Versant Capital Management Inc raised its position in Zillow Group by 38.3% in the 1st quarter. Versant Capital Management Inc now owns 1,413 shares of the technology company’s stock worth $94,000 after purchasing an additional 391 shares during the period. Finally, Barrier Capital Management LLC lifted its stake in Zillow Group by 0.4% in the fourth quarter. Barrier Capital Management LLC now owns 111,200 shares of the technology company’s stock worth $7,879,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Down 4.8%

ZG opened at $66.35 on Wednesday. The company’s 50 day moving average is $65.99 and its 200 day moving average is $70.94. The company has a market cap of $16.02 billion, a price-to-earnings ratio of -195.15, a PEG ratio of 12.87 and a beta of 2.11. Zillow Group, Inc. has a 12-month low of $40.30 and a 12-month high of $86.58.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The company had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $587.88 million. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, Director Erik C. Blachford sold 965 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the sale, the director now directly owns 35,474 shares of the company’s stock, valued at $2,495,595.90. This trade represents a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Errol G. Samuelson sold 2,854 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the completion of the transaction, the insider now directly owns 142,636 shares in the company, valued at $10,460,924.24. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,947 shares of company stock worth $7,199,000. Company insiders own 17.14% of the company’s stock.

Wall Street Analyst Weigh In

ZG has been the topic of a number of recent research reports. Barclays reduced their price objective on Zillow Group from $64.00 to $60.00 and set an “underweight” rating on the stock in a research note on Thursday, May 8th. DA Davidson reduced their price target on Zillow Group from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Keefe, Bruyette & Woods upgraded Zillow Group to a “hold” rating in a research report on Friday, March 28th. Wells Fargo & Company initiated coverage on shares of Zillow Group in a report on Monday, April 28th. They issued a “mixed” rating and a $62.00 target price on the stock. Finally, Benchmark decreased their target price on shares of Zillow Group from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.80.

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.