Kestra Private Wealth Services LLC Acquires New Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Key Points

• Kestra Private Wealth Services LLC has purchased 5,292 shares of Zillow Group, worth approximately $354,000, during the first quarter.
• Institutional investors hold 20.32% of Zillow Group's stock, with several firms, including Norges Bank and Dimensional Fund Advisors, significantly increasing their positions.
• Zillow Group's CFO and a director have sold shares recently, with a total of 101,093 shares sold by insiders worth approximately $6.99 million in the last three months.

Kestra Private Wealth Services LLC acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,292 shares of the technology company's stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Zillow Group in the fourth quarter worth approximately $27,000. Salem Investment Counselors Inc. acquired a new stake in shares of Zillow Group during the 1st quarter valued at $42,000. CX Institutional acquired a new stake in shares of Zillow Group during the 1st quarter valued at $46,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Zillow Group during the 4th quarter valued at $70,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Zillow Group by 13.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company's stock valued at $84,000 after acquiring an additional 138 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZG. Benchmark dropped their price target on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. William Blair began coverage on shares of Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating on the stock. Wells Fargo & Company increased their target price on shares of Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. UBS Group lowered their price target on Zillow Group from $98.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Canaccord Genuity Group lowered their price target on Zillow Group from $86.00 to $76.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $82.45.

Zillow Group Trading Up 1.0%

Shares of ZG stock traded up $0.78 during trading on Thursday, reaching $77.16. 74,528 shares of the company's stock traded hands, compared to its average volume of 548,509. The company has a market capitalization of $18.63 billion, a P/E ratio of -226.11, a PEG ratio of 14.24 and a beta of 2.09. The firm's 50-day moving average is $70.54 and its 200 day moving average is $70.51. 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 announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million for the quarter, compared to analysts' expectations of $587.88 million. Zillow Group had a negative net margin of 3.51% and a negative return on equity of 1.62%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zillow Group news, Director Erik C. Blachford sold 965 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the sale, the director owned 35,474 shares of the company's stock, valued at $2,495,595.90. This represents a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 7,959 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $549,011.82. Following the sale, the chief financial officer directly owned 97,481 shares of the company's stock, valued at $6,724,239.38. The trade was a 7.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,093 shares of company stock worth $6,989,688 in the last ninety days. 17.14% of the stock is currently owned by insiders.

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.