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 increased its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,060,399 shares of the technology company's stock after acquiring an additional 36,046 shares during the period. Zillow Group makes up 1.0% of Independent Franchise Partners LLP's investment portfolio, making the stock its 24th largest holding. Independent Franchise Partners LLP owned about 0.85% of Zillow Group worth $137,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Zillow Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 7,002,693 shares of the technology company's stock worth $468,200,000 after buying an additional 57,693 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Zillow Group by 6.5% in 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 in the last quarter. Selkirk Management LLC raised its holdings in shares of 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 purchasing an additional 45,000 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Zillow Group by 0.7% during the first quarter. Northern Trust Corp now owns 248,737 shares of the technology company's stock valued at $16,631,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Zillow Group by 3.9% during the first quarter. Raymond James Financial Inc. now owns 218,732 shares of the technology company's stock valued at $14,624,000 after purchasing an additional 8,197 shares during the last quarter. Institutional investors own 20.32% of the company's stock.

Zillow Group Trading Up 7.7%

Shares of ZG stock opened at $83.92 on Friday. Zillow Group, Inc. has a 12 month low of $51.16 and a 12 month high of $86.58. The stock has a market cap of $20.33 billion, a P/E ratio of -322.77, a P/E/G ratio of 15.81 and a beta of 2.07. The company has a 50 day simple moving average of $74.56 and a two-hundred day simple moving average of $70.80.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The firm had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

ZG has been the subject of several research reports. Zelman & Associates raised shares of Zillow Group to a "hold" rating in a report on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Susquehanna reaffirmed a "neutral" rating on shares of Zillow Group in a report on Friday, August 8th. Royal Bank Of Canada upped their target price 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. Finally, The Goldman Sachs Group reduced their target price on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Thirteen 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $85.62.

Insider Transactions at Zillow Group

In other news, General Counsel Bradley D. Owens sold 3,014 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.35, for a total value of $257,244.90. Following the completion of the sale, the general counsel directly owned 42,593 shares of the company's stock, valued at $3,635,312.55. This represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction on Friday, August 15th. The stock was 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 directly owned 84,146 shares of the company's stock, valued at approximately $7,181,861.10. This trade represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 580,379 shares of company stock valued at $49,319,729. Company insiders own 17.14% of the company's stock.

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.

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