Deutsche Bank AG Raises Stock Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Key Points

• Deutsche Bank AG increased its stake in Zillow Group by 30.1%, bringing its total holdings to 121,036 shares valued at approximately $8.09 million.
• Multiple hedge funds, including Vanguard Group and Dimensional Fund Advisors, have also raised their stakes in Zillow Group, indicating growing institutional interest.
• Analysts have mixed views on Zillow Group, with price targets ranging from $60 to $110 and an average consensus rating of "Hold".

Deutsche Bank AG increased its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 30.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,036 shares of the technology company's stock after purchasing an additional 28,017 shares during the quarter. Deutsche Bank AG's holdings in Zillow Group were worth $8,092,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Zillow Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 7,002,693 shares of the technology company's stock valued at $468,200,000 after buying an additional 57,693 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Zillow Group by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company's stock valued at $31,578,000 after acquiring an additional 27,345 shares in the last quarter. Selkirk Management LLC raised its position in Zillow Group by 14.0% during the fourth quarter. Selkirk Management LLC now owns 365,800 shares of the technology company's stock valued at $25,917,000 after acquiring an additional 45,000 shares in the last quarter. Northern Trust Corp raised its position in Zillow Group by 2.5% during the fourth quarter. Northern Trust Corp now owns 247,078 shares of the technology company's stock valued at $17,505,000 after acquiring an additional 6,088 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Zillow Group during the fourth quarter valued at approximately $14,916,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Zelman & Associates raised Zillow Group to a "hold" rating in a research note on Friday, August 8th. DA Davidson lifted their price target on Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Benchmark lowered their price target on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lifted their price target on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Zillow Group presently has an average rating of "Hold" and a consensus price target of $85.62.

Zillow Group Trading Down 0.2%

ZG stock opened at $81.36 on Friday. The business's fifty day moving average price is $73.54 and its 200 day moving average price is $70.89. Zillow Group, Inc. has a 12-month low of $50.65 and a 12-month high of $86.58. The company has a market capitalization of $19.64 billion, a PE ratio of -312.92, a P/E/G ratio of 13.24 and a beta of 2.07.

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

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $697,138.80. Following the transaction, the chief financial officer owned 84,146 shares in the company, valued at approximately $7,181,861.10. This represents a 8.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dan Spaulding sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total value of $8,591,000.00. Following the transaction, the insider owned 68,889 shares in the company, valued at $5,918,253.99. This represents a 59.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,379 shares of company stock worth $19,483,729. 17.14% of the stock is currently owned by company insiders.

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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