SG Americas Securities LLC Makes New $930,000 Investment in Zillow Group, Inc. $ZG

SG Americas Securities LLC bought a new stake in Zillow Group, Inc. (NASDAQ:ZG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,498 shares of the technology company’s stock, valued at approximately $930,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after buying an additional 3,717 shares during the last quarter. Millennium Management LLC increased its position in Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after acquiring an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Zillow Group by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after acquiring an additional 5,737 shares during the period. Voya Investment Management LLC raised its stake in shares of Zillow Group by 2.8% during the first quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company’s stock valued at $386,000 after acquiring an additional 156 shares during the last quarter. Finally, Unified Investment Management lifted its holdings in shares of Zillow Group by 1.7% during the second quarter. Unified Investment Management now owns 14,144 shares of the technology company’s stock worth $969,000 after purchasing an additional 235 shares during the period. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Stock Performance

Shares of ZG stock opened at $67.66 on Tuesday. Zillow Group, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $90.22. The stock has a 50 day simple moving average of $69.15 and a two-hundred day simple moving average of $73.92. The company has a market cap of $16.38 billion, a P/E ratio of -483.25, a PEG ratio of 3.75 and a beta of 2.03.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $676.00 million during the quarter, compared to the consensus estimate of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 7,865 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $69.53, for a total transaction of $546,853.45. Following the completion of the sale, the chief financial officer owned 70,811 shares in the company, valued at $4,923,488.83. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Erik C. Blachford sold 965 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $72.51, for a total value of $69,972.15. Following the completion of the transaction, the director owned 33,543 shares in the company, valued at approximately $2,432,202.93. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,511 shares of company stock worth $4,766,357 over the last three months. Insiders own 17.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZG. BNP Paribas initiated coverage on Zillow Group in a report on Wednesday, January 14th. They issued an “outperform” rating and a $85.00 price objective for the company. UBS Group lowered their price objective on Zillow Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, October 31st. BNP Paribas Exane started coverage on Zillow Group in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $85.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $85.00 target price (down previously from $94.00) on shares of Zillow Group in a research report on Friday, October 31st. Finally, Citizens Jmp lowered their price target on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.08.

Zillow Group Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.