Brevan Howard Capital Management LP Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

Brevan Howard Capital Management LP acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,497 shares of the technology company's stock, valued at approximately $531,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Zillow Group during the fourth quarter worth about $165,326,000. Arrowstreet Capital Limited Partnership boosted its position in Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock worth $18,454,000 after acquiring an additional 241,331 shares during the last quarter. Virtu Financial LLC grew its stake in Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after acquiring an additional 211,482 shares during the period. Raymond James Financial Inc. acquired a new position in Zillow Group in the 4th quarter valued at $14,916,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Zillow Group by 2,728.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company's stock valued at $6,858,000 after acquiring an additional 93,378 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Price Performance

Shares of ZG stock traded up $3.30 on Monday, hitting $70.08. 617,139 shares of the stock traded hands, compared to its average volume of 561,474. The company's fifty day moving average is $66.25 and its 200 day moving average is $71.41. Zillow Group, Inc. has a 1-year low of $38.40 and a 1-year high of $86.58. The company has a market capitalization of $17.00 billion, a PE ratio of -149.11, a PEG ratio of 8.90 and a beta of 2.22.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Zillow Group from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group dropped their price target on Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday. DA Davidson dropped their target price on shares of Zillow Group from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $88.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 price objective (down previously from $100.00) on shares of Zillow Group in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.80.

Insiders Place Their Bets

In other Zillow Group news, CAO Jennifer Rock sold 5,997 shares of Zillow Group stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $68.06, for a total value of $408,155.82. Following the transaction, the chief accounting officer now owns 58,320 shares in the company, valued at approximately $3,969,259.20. The trade was a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jun Choo sold 1,277 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,750,215.16. This represents a 1.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,641 shares of company stock worth $7,665,962. 17.14% of the stock is owned by corporate insiders.

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.