D L Carlson Investment Group Inc. Buys Shares of 45,644 Zillow Group, Inc. $ZG

Key Points

• D L Carlson Investment Group Inc. has acquired a new stake in Zillow Group, Inc., purchasing 45,644 shares for approximately $3.05 million during the first quarter of the year.
• Insider transactions at Zillow Group included CFO Jeremy Hofmann selling 8,168 shares at an average price of $85.35, indicating an 8.85% decrease in his holdings.
• Analysts have set a range of new price targets for Zillow Group, with most firms rating it as "overweight" and the average target price reaching $85.62.

D L Carlson Investment Group Inc. 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 45,644 shares of the technology company's stock, valued at approximately $3,052,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Zillow Group by 38.0% in the first 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 increased its stake in Zillow Group by 60.9% in the first 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 increased its position in shares of Zillow Group by 253.3% during the first quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock worth $1,403,000 after acquiring an additional 15,042 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Zillow Group during the fourth quarter worth about $228,000. Finally, Two Sigma Advisers LP increased its position in shares of Zillow Group by 21.5% during the fourth quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company's stock worth $998,000 after acquiring an additional 2,490 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Down 1.2%

Zillow Group stock traded down $1.00 during midday trading on Monday, hitting $81.48. 285,942 shares of the stock were exchanged, compared to its average volume of 626,349. Zillow Group, Inc. has a 52-week low of $51.16 and a 52-week high of $86.58. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of -313.38, a price-to-earnings-growth ratio of 15.35 and a beta of 2.02. The business's 50-day moving average price is $76.11 and its 200-day moving average price is $70.76.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The firm had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. During the same quarter last year, the firm posted $0.39 earnings per share. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, sell-side analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZG has been the subject of several recent research reports. Canaccord Genuity Group boosted their target price on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. KeyCorp reissued an "overweight" rating and set a $92.00 target price (up from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. DA Davidson boosted their target price on shares of Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Benchmark decreased their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $85.62.

Insider Buying and Selling at Zillow Group

In related news, Director Thielke Claire Cormier sold 8,247 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $79.86, for a total transaction of $658,605.42. Following the transaction, the director directly owned 725 shares in the company, valued at approximately $57,898.50. The trade was a 91.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard N. Barton sold 200,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $84.92, for a total transaction of $16,984,000.00. Following the transaction, the chairman owned 843,248 shares in the company, valued at approximately $71,608,620.16. This trade represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 580,379 shares of company stock valued at $49,319,729 in the last quarter. 17.14% of the stock is owned by company 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.