32,672 Shares in Zillow Group, Inc. $ZG Purchased by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC acquired 32,672 Zillow Group shares during the second quarter, valued at approximately $1.03 million. Institutional investors now own 20.32% of the company.
• Zillow shares opened at $34.36 after falling 4.0%; the stock has traded between $29.03 and $90.22 over the past year. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.52 EPS and $772 million in revenue.
• Analysts maintain a consensus “Hold” rating with an average price target of $53.14, despite several recent target reductions. Insiders sold shares primarily to cover tax obligations related to vested equity awards.

Headlands Technologies LLC bought a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 32,672 shares of the technology company's stock, valued at approximately $1,025,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZG. Arax Advisory Partners boosted its stake in Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock worth $30,000 after purchasing an additional 354 shares during the period. First Command Advisory Services Inc. bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised its position in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company's stock valued at $41,000 after buying an additional 637 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company's stock worth $42,000 after buying an additional 921 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Zillow Group in the fourth quarter worth $47,000. Institutional investors own 20.32% of the company's stock.

Zillow Group Trading Down 4.0%

Shares of NASDAQ:ZG opened at $34.36 on Wednesday. Zillow Group, Inc. has a 12 month low of $29.03 and a 12 month high of $90.22. The company has a 50-day moving average price of $33.83 and a 200 day moving average price of $38.38. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 156.19, a PEG ratio of 1.56 and a beta of 1.95.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company had revenue of $772.00 million for the quarter, compared to analysts' expectations of $758.25 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ZG. Piper Sandler decreased their price target on shares of Zillow Group from $55.00 to $46.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company reduced their target price on Zillow Group from $46.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, August 7th. Citizens Jmp decreased their target price on Zillow Group from $75.00 to $46.00 and set a "market outperform" rating on the stock in a research report on Friday, August 7th. Barclays cut their price target on Zillow Group from $58.00 to $54.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Finally, The Goldman Sachs Group reduced their price objective on Zillow Group from $53.00 to $40.00 and set a "neutral" rating on the stock in a research note on Friday, June 12th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $53.14.

Insider Activity

In other Zillow Group news, CTO David A. Beitel sold 1,798 shares of Zillow Group stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $61,563.52. Following the completion of the transaction, the chief technology officer directly owned 133,013 shares of the company's stock, valued at $4,554,365.12. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the transaction, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. This trade represents a 8.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 37,351 shares of company stock worth $1,280,657. Company insiders own 29.88% of the company's stock.

Zillow Group Company Profile

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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