11,704 Shares in Zillow Group, Inc. (NASDAQ:ZG) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,704 shares of the technology company's stock, valued at approximately $783,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Zillow Group in the 4th quarter valued at approximately $165,326,000. Arrowstreet Capital Limited Partnership increased its position in shares of Zillow Group by 1,261.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock worth $18,454,000 after purchasing an additional 241,331 shares in the last quarter. Virtu Financial LLC increased its position in shares of Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after purchasing an additional 211,482 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Zillow Group in the 4th quarter valued at about $14,916,000. Finally, Sone Capital Management LLC bought a new position in shares of Zillow Group in the 4th quarter valued at about $11,185,000. Institutional investors own 20.32% of the company's stock.

Insider Buying and Selling

In other news, CEO Jeremy Wacksman sold 10,984 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $757,676.32. Following the completion of the transaction, the chief executive officer directly owned 171,517 shares of the company's stock, valued at approximately $11,831,242.66. This represents a 6.02% 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 the SEC website. Also, Director Gordon Sheridan Stephenson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $70.69, for a total value of $706,900.00. Following the transaction, the director owned 28,290 shares of the company's stock, valued at approximately $1,999,820.10. This represents a 26.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,093 shares of company stock valued at $6,989,688 over the last ninety days. Insiders own 17.14% of the company's stock.

Zillow Group Price Performance

Shares of ZG stock traded up $0.34 during trading hours on Wednesday, reaching $77.51. 424,748 shares of the company's stock were exchanged, compared to its average volume of 558,483. The company's 50 day moving average is $69.25 and its two-hundred day moving average is $70.18. The company has a market cap of $18.71 billion, a P/E ratio of -227.97, a price-to-earnings-growth ratio of 14.25 and a beta of 2.09. Zillow Group, Inc. has a 1 year low of $40.30 and a 1 year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). Zillow Group had a negative net margin of 3.51% and a negative return on equity of 1.62%. The company had revenue of $598.00 million during the quarter, compared to analysts' expectations of $587.88 million. During the same period in the previous year, the company posted $0.36 EPS. Zillow Group's quarterly revenue was up 13.0% compared to the same quarter last year. As a group, analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

ZG has been the subject of a number of research analyst reports. DA Davidson reaffirmed a "buy" rating and set a $85.00 price objective on shares of Zillow Group in a research report on Friday, July 18th. Wells Fargo & Company lifted their price target 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. UBS Group lowered their target price on Zillow Group from $98.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Benchmark reduced their target price on Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group cut their target price on Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $82.45.

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.