149,537 Shares in Zillow Group, Inc. $ZG Bought by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC acquired 149,537 shares of Zillow Group, valued at approximately $9.998 million, during the first quarter, representing about 0.06% of the company's total shares.
• Zillow Group reported a negative EPS of $0.40 for the last quarter, missing the consensus estimate, despite revenues increasing by 14.5% year-over-year.
• Brokerages have varied outlooks on Zillow Group, with DA Davidson and Evercore ISI raising target prices to $95, while Barclays maintains a lower target of $66, highlighting the mixed sentiments among analysts.

Driehaus Capital Management LLC acquired a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 149,537 shares of the technology company's stock, valued at approximately $9,998,000. Driehaus Capital Management LLC owned approximately 0.06% of Zillow Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Zillow Group by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock valued at $122,000 after purchasing an additional 503 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Zillow Group by 60.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock valued at $404,000 after purchasing an additional 2,288 shares in the last quarter. SG Americas Securities LLC boosted its stake in Zillow Group by 253.3% during the 1st quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock valued at $1,403,000 after purchasing an additional 15,042 shares in the last quarter. Cetera Investment Advisers bought a new position in Zillow Group during the 4th quarter valued at $228,000. Finally, Two Sigma Advisers LP boosted its stake in Zillow Group by 21.5% during the 4th quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company's stock valued at $998,000 after purchasing an additional 2,490 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Up 2.3%

Shares of Zillow Group stock traded up $1.82 during midday trading on Wednesday, hitting $80.81. The company's stock had a trading volume of 286,487 shares, compared to its average volume of 556,435. The firm has a market capitalization of $19.58 billion, a P/E ratio of -310.81, a PEG ratio of 15.35 and a beta of 2.02. The stock has a 50-day simple moving average of $76.60 and a 200-day simple moving average of $70.85. Zillow Group, Inc. has a 1-year low of $51.16 and a 1-year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The business had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, sell-side 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 8,168 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $697,138.80. Following the completion of the sale, the chief financial officer owned 84,146 shares of the company's stock, valued at $7,181,861.10. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Bradley D. Owens sold 3,014 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $257,244.90. Following the completion of the sale, the general counsel directly owned 42,593 shares of the company's stock, valued at approximately $3,635,312.55. This trade represents a 6.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 580,379 shares of company stock valued at $49,319,729 over the last quarter. 17.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZG. JPMorgan Chase & Co. increased their price target on Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. DA Davidson increased their price target on Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. The Goldman Sachs Group decreased 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, May 8th. Barclays reissued an "underweight" rating and set a $66.00 price objective (up from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Finally, KeyCorp reissued an "overweight" rating and set a $92.00 price objective (up from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Zillow Group currently has a consensus rating of "Hold" and a consensus price target of $85.62.

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.