D L Carlson Investment Group Inc. Takes $3.05 Million Position in 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 shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 45,644 shares of the technology company's stock, valued at approximately $3,052,000.

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after buying an additional 216 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Zillow Group during the first quarter valued at approximately $42,000. CX Institutional purchased a new stake in shares of Zillow Group during the first quarter valued at approximately $46,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Zillow Group during the fourth quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 8,168 shares of Zillow Group stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.35, for a total transaction of $697,138.80. Following the completion of the sale, the chief financial officer owned 84,146 shares in the company, valued at $7,181,861.10. This trade represents a 8.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 3,014 shares of Zillow Group stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.35, for a total transaction of $257,244.90. Following the sale, the general counsel owned 42,593 shares of the company's stock, valued at $3,635,312.55. The trade was a 6.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 580,379 shares of company stock worth $49,319,729. 17.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ZG has been the topic of a number of recent analyst reports. KeyCorp reiterated an "overweight" rating and set a $92.00 price target (up previously from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. Piper Sandler increased their price objective on shares of Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Susquehanna restated a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Wells Fargo & Company increased their price objective on shares of Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Barclays restated an "underweight" rating and set a $66.00 price objective (up previously from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Thirteen equities 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 an average target price of $85.62.

Zillow Group Trading Down 1.1%

Zillow Group stock opened at $82.90 on Wednesday. The firm has a 50-day moving average price of $75.17 and a 200-day moving average price of $70.78. The firm has a market capitalization of $20.08 billion, a PE ratio of -318.85, a price-to-earnings-growth ratio of 15.78 and a beta of 2.07. Zillow Group, Inc. has a 12-month low of $51.16 and a 12-month high of $86.58.

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

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.

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