Aberdeen Group plc Invests $2.53 Million in Zillow Group, Inc. $ZG

Aberdeen Group plc purchased a new stake in Zillow Group, Inc. (NASDAQ:ZG) in the third quarter, according to its most recent filing with the SEC. The fund purchased 33,980 shares of the technology company’s stock, valued at approximately $2,529,000.

Several other large investors have also recently added to or reduced their stakes in ZG. Smartleaf Asset Management LLC boosted its holdings in Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Zillow Group by 23.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after buying an additional 194 shares during the period. Lavaca Capital LLC boosted its holdings in shares of Zillow Group by 67.0% in the 2nd quarter. Lavaca Capital LLC now owns 1,670 shares of the technology company’s stock valued at $114,000 after buying an additional 670 shares during the period. Assetmark Inc. grew its position in shares of Zillow Group by 207.0% during the 2nd quarter. Assetmark Inc. now owns 1,980 shares of the technology company’s stock valued at $136,000 after buying an additional 1,335 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Zillow Group by 79.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,021 shares of the technology company’s stock worth $138,000 after acquiring an additional 892 shares during the period. 20.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Zillow Group news, insider Errol G. Samuelson sold 7,015 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $44.21, for a total transaction of $310,133.15. Following the completion of the transaction, the insider directly owned 113,800 shares of the company’s stock, valued at approximately $5,031,098. This trade represents a 5.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David A. Beitel sold 3,966 shares of Zillow Group stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the transaction, the chief technology officer owned 136,690 shares in the company, valued at approximately $6,044,431.80. This trade represents a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 62,007 shares of company stock valued at $2,771,433. 17.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ZG shares. BNP Paribas Exane began coverage on Zillow Group in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $85.00 target price for the company. Benchmark reiterated a “buy” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Mizuho set a $65.00 price objective on Zillow Group in a research report on Wednesday, February 11th. UBS Group set a $80.00 price objective on Zillow Group in a research note on Wednesday, February 11th. Finally, KeyCorp dropped their target price on Zillow Group from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Fourteen 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.05.

Zillow Group Stock Performance

Shares of ZG opened at $45.42 on Friday. Zillow Group, Inc. has a one year low of $42.25 and a one year high of $90.22. The stock’s fifty day moving average is $62.03 and its 200-day moving average is $70.61. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 504.72, a price-to-earnings-growth ratio of 2.54 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

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.