Independent Franchise Partners LLP Acquires 36,046 Shares of Zillow Group, Inc. $ZG

Key Points

• Independent Franchise Partners LLP has increased its stake in Zillow Group, acquiring an additional 36,046 shares, bringing its total ownership to about 2,060,399 shares valued at approximately $137.76 million.
• Zillow Group reported earnings of $0.40 per share for the last quarter, falling short of analysts' expectations of $0.44, despite a year-over-year revenue increase of 14.5%.
• Institutional investors now own 20.32% of Zillow Group's shares, with several hedge funds adjusting their positions, indicating growing interest in the company's stock.

Independent Franchise Partners LLP boosted its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,060,399 shares of the technology company's stock after buying an additional 36,046 shares during the quarter. Zillow Group comprises 1.0% of Independent Franchise Partners LLP's portfolio, making the stock its 24th biggest holding. Independent Franchise Partners LLP owned 0.85% of Zillow Group worth $137,758,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ZG. Envestnet Asset Management Inc. increased its position in Zillow Group by 13.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock worth $364,000 after buying an additional 600 shares during the last quarter. Mariner LLC increased its position in Zillow Group by 18.9% during the fourth quarter. Mariner LLC now owns 8,157 shares of the technology company's stock worth $578,000 after buying an additional 1,299 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Zillow Group during the fourth quarter worth $458,000. Marshall Wace LLP increased its position in Zillow Group by 19.2% during the fourth quarter. Marshall Wace LLP now owns 29,682 shares of the technology company's stock worth $2,103,000 after buying an additional 4,782 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased 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 worth $31,578,000 after buying an additional 27,345 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Price Performance

Shares of NASDAQ ZG traded down $0.78 during mid-day trading on Friday, hitting $81.71. The company had a trading volume of 123,541 shares, compared to its average volume of 558,074. The business's 50-day simple moving average is $75.81 and its 200-day simple moving average is $70.84. Zillow Group, Inc. has a 12 month low of $51.16 and a 12 month high of $86.58. The firm has a market cap of $19.79 billion, a P/E ratio of -313.92, a PEG ratio of 15.37 and a beta of 2.07.

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 for the quarter, missing the consensus estimate 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 company had revenue of $655.00 million during the quarter, compared to the consensus estimate of $647.06 million. During the same quarter in the previous year, the business posted $0.39 EPS. The firm's quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Richard N. Barton sold 150,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.68, for a total value of $12,852,000.00. Following the completion of the sale, the chairman owned 2,501,225 shares in the company, valued at approximately $214,304,958. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 8,168 shares of the 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 of the company's stock, valued at approximately $7,181,861.10. The trade was a 8.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 580,379 shares of company stock valued at $49,319,729 in the last quarter. 17.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ZG. DA Davidson increased 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. Royal Bank Of Canada upped their price target on shares of Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Canaccord Genuity Group upped their price target on shares of Zillow Group from $76.00 to $84.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Barclays restated an "underweight" rating and set a $66.00 price target (up from $60.00) on shares of Zillow Group in a report on Thursday, August 7th. Finally, Evercore ISI upped their price target on shares of Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $85.62.

Zillow Group Company 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.