Sone Capital Management LLC Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

Sone Capital Management LLC purchased a new stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 157,865 shares of the technology company's stock, valued at approximately $11,185,000. Zillow Group comprises 1.4% of Sone Capital Management LLC's holdings, making the stock its 22nd biggest holding. Sone Capital Management LLC owned about 0.07% of Zillow Group at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Zillow Group in the 4th quarter valued at about $165,326,000. Arrowstreet Capital Limited Partnership increased its stake in Zillow Group by 1,261.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock worth $18,454,000 after purchasing an additional 241,331 shares in the last quarter. Virtu Financial LLC increased its stake in Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after purchasing an additional 211,482 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Zillow Group during the 4th quarter worth approximately $14,916,000. Finally, Nellore Capital Management LLC bought a new stake in Zillow Group during the 4th quarter worth approximately $6,823,000. 20.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. DA Davidson cut their price objective on Zillow Group from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Cantor Fitzgerald increased their price objective on Zillow Group from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Bank of America increased their price objective on Zillow Group from $81.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company began coverage on Zillow Group in a report on Monday, April 28th. They issued a "mixed" rating and a $62.00 price objective for the company. 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.80.

Zillow Group Trading Down 0.2%

ZG stock traded down $0.16 during trading hours on Thursday, hitting $64.26. 748,238 shares of the stock were exchanged, compared to its average volume of 564,754. The firm has a market capitalization of $15.59 billion, a P/E ratio of -136.72, a P/E/G ratio of 8.90 and a beta of 2.22. The company has a 50-day simple moving average of $65.86 and a two-hundred day simple moving average of $71.68. Zillow Group, Inc. has a 12 month low of $38.40 and a 12 month high of $86.58.

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

Insider Activity at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the business's stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Wacksman sold 10,984 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $757,676.32. Following the transaction, the chief executive officer now directly owns 171,517 shares of the company's stock, valued at approximately $11,831,242.66. The trade was a 6.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,741 shares of company stock valued at $11,414,034 over the last quarter. 17.14% of the stock is owned by corporate insiders.

About Zillow Group

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.