Cetera Investment Advisers Increases Holdings in Zillow Group, Inc. $ZG

Cetera Investment Advisers raised its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 15.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,709 shares of the technology company’s stock after buying an additional 487 shares during the period. Cetera Investment Advisers’ holdings in Zillow Group were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Zillow Group by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company’s stock valued at $31,578,000 after buying an additional 27,345 shares during the last quarter. Selkirk Management LLC grew its position in shares of Zillow Group by 14.0% during the 4th quarter. Selkirk Management LLC now owns 365,800 shares of the technology company’s stock valued at $25,917,000 after acquiring an additional 45,000 shares during the period. Northern Trust Corp grew its position in shares of Zillow Group by 2.5% during the 4th quarter. Northern Trust Corp now owns 247,078 shares of the technology company’s stock valued at $17,505,000 after acquiring an additional 6,088 shares during the period. Sone Capital Management LLC bought a new stake in shares of Zillow Group during the 4th quarter valued at $11,185,000. Finally, GAMMA Investing LLC grew its position in shares of Zillow Group by 9,124.2% during the 1st quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company’s stock valued at $8,172,000 after acquiring an additional 120,895 shares during the period. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of Zillow Group from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. The Goldman Sachs Group decreased their price target on Zillow Group from $77.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Benchmark decreased their price target on Zillow Group from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Susquehanna reissued a “neutral” rating on shares of Zillow Group in a report on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Hold” and an average price target of $85.62.

Zillow Group Stock Performance

NASDAQ:ZG opened at $77.89 on Friday. Zillow Group, Inc. has a fifty-two week low of $51.16 and a fifty-two week high of $86.58. The stock has a market capitalization of $18.87 billion, a P/E ratio of -299.58, a P/E/G ratio of 14.61 and a beta of 2.07. The company’s 50-day simple moving average is $74.26 and its 200-day simple moving average is $70.87.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm had revenue of $655.00 million during the quarter, compared to the consensus estimate of $647.06 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. On average, research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jeremy Wacksman sold 11,275 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.73, for a total value of $966,605.75. Following the sale, the chief executive officer directly owned 153,113 shares in the company, valued at approximately $13,126,377.49. This trade represents a 6.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $85.35, for a total transaction of $697,138.80. Following the completion of the transaction, the chief financial officer directly owned 84,146 shares of the company’s stock, valued at $7,181,861.10. The trade was a 8.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 580,379 shares of company stock worth $49,319,729. 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.