Zillow Group, Inc. (NASDAQ:ZG) Shares Acquired by M&T Bank Corp

M&T Bank Corp grew its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,437 shares of the technology company’s stock after purchasing an additional 215 shares during the quarter. M&T Bank Corp’s holdings in Zillow Group were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ZG. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group in the 4th quarter valued at approximately $27,000. Salem Investment Counselors Inc. purchased a new position in shares of Zillow Group during the first quarter worth about $42,000. CX Institutional acquired a new stake in Zillow Group during the 1st quarter worth $46,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Zillow Group during the fourth quarter worth $70,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Zillow Group by 13.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock valued at $84,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Up 0.4%

Shares of ZG stock opened at $74.48 on Friday. Zillow Group, Inc. has a 1-year low of $40.30 and a 1-year high of $86.58. The stock has a 50-day moving average of $68.84 and a 200-day moving average of $70.09. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of -219.06, a PEG ratio of 13.70 and a beta of 2.09.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on Zillow Group from $77.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. William Blair initiated coverage on Zillow Group in a research note on Monday, April 21st. They issued a “market perform” rating on the stock. DA Davidson dropped their price target on shares of Zillow Group from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Citigroup reduced their target price on Zillow Group from $98.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler lifted their price target on shares of Zillow Group from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $82.45.

Insider Buying and Selling

In other news, Director Erik C. Blachford sold 965 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the sale, the director owned 35,474 shares of the company’s stock, valued at approximately $2,495,595.90. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 7,959 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $549,011.82. Following the transaction, the chief financial officer directly owned 97,481 shares in the company, valued at $6,724,239.38. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,093 shares of company stock valued at $6,989,688. Corporate insiders own 17.14% of the company’s stock.

Zillow Group 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.