Mirador Capital Partners LP Invests $674,000 in Zillow Group, Inc. (NASDAQ:ZG)

Mirador Capital Partners LP purchased a new stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,077 shares of the technology company's stock, valued at approximately $674,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in Zillow Group in the fourth quarter valued at $165,326,000. Arrowstreet Capital Limited Partnership increased its position in shares of 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 valued at $18,454,000 after acquiring an additional 241,331 shares in the last quarter. Virtu Financial LLC grew its stake in shares of Zillow Group by 101.3% in the fourth 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. bought a new position in shares of Zillow Group in the 4th quarter worth approximately $14,916,000. Finally, Sone Capital Management LLC bought a new position in shares of Zillow Group in the fourth quarter worth about $11,185,000. Institutional investors own 20.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZG. William Blair started coverage on shares of Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating for the company. Canaccord Genuity Group dropped their target price on Zillow Group from $86.00 to $76.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. DA Davidson lowered their price target on shares of Zillow Group from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Benchmark dropped their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group decreased their target price on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.80.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 5,997 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $68.06, for a total transaction of $408,155.82. Following the completion of the sale, the chief accounting officer now directly owns 58,320 shares in the company, valued at $3,969,259.20. This represents a 9.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the transaction, the insider now owns 142,636 shares of the company's stock, valued at approximately $10,460,924.24. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,741 shares of company stock worth $7,114,134 in the last ninety days. 17.14% of the stock is currently owned by insiders.

Zillow Group Price Performance

Shares of ZG traded up $0.65 during trading hours on Tuesday, hitting $68.00. The stock had a trading volume of 344,047 shares, compared to its average volume of 563,011. Zillow Group, Inc. has a 1-year low of $39.83 and a 1-year high of $86.58. The firm has a 50 day simple moving average of $65.18 and a 200-day simple moving average of $71.62. The firm has a market capitalization of $16.42 billion, a P/E ratio of -144.68, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million during the quarter, compared to analysts' expectations of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Zillow Group's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. Equities 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.