49,294 Shares in Zillow Group, Inc. $ZG Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 49,294 Zillow Group shares during the second quarter, valued at approximately $1.55 million. Institutional investors collectively own 20.32% of the company.
• Zillow reported quarterly earnings of $0.52 per share, beating estimates by $0.08, while revenue rose 17.9% year over year to $772 million.
• Analyst sentiment remains mixed, with Zillow holding a consensus “Hold” rating and an average price target of $52.29; the stock recently opened at $35.16.

Assenagon Asset Management S.A. 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 disclosure with the Securities and Exchange Commission. The firm bought 49,294 shares of the technology company's stock, valued at approximately $1,546,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZG. PNC Financial Services Group Inc. increased its holdings in Zillow Group by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company's stock valued at $147,000 after buying an additional 198 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Zillow Group by 0.4% during the 4th quarter. Lido Advisors LLC now owns 50,846 shares of the technology company's stock worth $3,627,000 after buying an additional 215 shares during the last quarter. Royal London Asset Management Ltd. increased its position in Zillow Group by 1.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company's stock valued at $1,248,000 after acquiring an additional 247 shares during the period. Mackenzie Financial Corp grew its holdings in Zillow Group by 8.5% during the third quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company's stock worth $246,000 after acquiring an additional 258 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Zillow Group by 9.2% in the second quarter. California State Teachers Retirement System now owns 3,147 shares of the technology company's stock valued at $216,000 after buying an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Insider Transactions at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the transaction, the chief financial officer directly owned 68,315 shares of the company's stock, valued at $2,554,981. The trade was a 7.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, insider Dan Spaulding sold 3,078 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the sale, the insider directly owned 49,696 shares in the company, valued at $1,858,630.40. This trade represents a 5.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders sold 19,629 shares of company stock worth $719,150. Corporate insiders own 29.88% of the company's stock.

Zillow Group Stock Performance

NASDAQ ZG opened at $35.16 on Friday. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 159.83, a PEG ratio of 1.58 and a beta of 1.95. The business has a 50 day simple moving average of $33.03 and a 200 day simple moving average of $40.43.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. The company had revenue of $772.00 million during the quarter, compared to analysts' expectations of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.Zillow Group's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. On average, analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Zillow Group from $53.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, June 12th. Weiss Ratings cut Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, May 22nd. Susquehanna dropped their target price on shares of Zillow Group from $50.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Benchmark cut their price target on shares of Zillow Group from $110.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Thursday, June 11th. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zillow Group presently has an average rating of "Hold" and a consensus price target of $52.29.

Zillow Group 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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