Graham Capital Management L.P. Invests $1.53 Million in Zillow Group, Inc. (NASDAQ:ZG)

Graham Capital Management L.P. bought a new position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 21,597 shares of the technology company's stock, valued at approximately $1,530,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Zillow Group by 155.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company's stock worth $2,060,000 after buying an additional 20,238 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Zillow Group by 28.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company's stock worth $1,753,000 after buying an additional 5,539 shares during the last quarter. Avanza Fonder AB purchased a new position in Zillow Group during the 4th quarter worth approximately $234,000. Blue Trust Inc. grew its stake in Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock worth $30,000 after buying an additional 172 shares during the last quarter. Finally, Asset Dedication LLC purchased a new position in Zillow Group during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 20.32% of the company's stock.

Insider Buying and Selling

In related news, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at approximately $6,790,167.54. The trade was a 38.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jennifer Rock sold 5,997 shares of Zillow Group stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total value of $408,155.82. Following the transaction, the chief accounting officer now directly owns 58,320 shares of the company's stock, valued at approximately $3,969,259.20. This represents a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,741 shares of company stock valued at $11,414,034. 17.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America raised their price target on Zillow Group from $81.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Wells Fargo & Company assumed coverage on Zillow Group in a research note on Monday, April 28th. They set a "mixed" rating and a $62.00 price target on the stock. Wedbush restated an "outperform" rating and set a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research note on Thursday, May 8th. UBS Group lowered their target price on Zillow Group from $98.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Baird R W upgraded Zillow Group to a "hold" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.80.

Zillow Group Trading Up 2.3%

Shares of ZG traded up $1.54 during mid-day trading on Friday, hitting $68.76. The company's stock had a trading volume of 475,465 shares, compared to its average volume of 562,811. The firm has a 50-day simple moving average of $66.00 and a 200 day simple moving average of $71.70. The firm has a market capitalization of $16.68 billion, a P/E ratio of -146.30, a P/E/G ratio of 8.90 and a beta of 2.22. Zillow Group, Inc. has a 1-year low of $38.40 and a 1-year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

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.