Nuveen LLC Buys New Shares in Zillow Group, Inc. $ZG

Key Points

• Nuveen LLC acquired approximately $8.95 million worth of shares in Zillow Group, Inc., marking its entry into the company's stock during the first quarter of the year.
• Zillow Group's recent quarterly earnings showed a revenue increase of 14.5% year-over-year, despite missing EPS estimates, which raises questions about its future performance.
• Recent analyst ratings suggest a mixed outlook, with price targets ranging from $66.00 to $95.00, highlighting varying levels of confidence in the company's stock.

Nuveen LLC acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 133,858 shares of the technology company's stock, valued at approximately $8,950,000. Nuveen LLC owned about 0.06% of Zillow Group at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ZG. Sone Capital Management LLC purchased a new stake in shares of Zillow Group during the fourth quarter worth about $11,185,000. GAMMA Investing LLC lifted its holdings in Zillow Group by 9,124.2% in the first quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company's stock worth $8,172,000 after buying an additional 120,895 shares during the period. Nellore Capital Management LLC purchased a new stake in Zillow Group in the fourth quarter worth about $6,823,000. Schonfeld Strategic Advisors LLC lifted its holdings in Zillow Group by 2,728.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company's stock worth $6,858,000 after buying an additional 93,378 shares during the period. Finally, Interval Partners LP purchased a new stake in Zillow Group in the fourth quarter worth about $4,854,000. 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 ZG shares. Evercore ISI raised their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Royal Bank Of Canada raised their price objective on shares of Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. The Goldman Sachs Group lowered their price objective 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. Finally, Canaccord Genuity Group raised their price objective on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $85.62.

Insider Activity at Zillow Group

In other Zillow Group news, Chairman Richard N. Barton sold 150,000 shares of Zillow Group stock in a transaction that occurred on 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 of the company's stock, valued at approximately $214,304,958. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 8,168 shares of Zillow Group stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders have sold 580,379 shares of company stock valued at $49,319,729 over the last ninety days. Corporate insiders own 17.14% of the company's stock.

Zillow Group Stock Down 1.1%

Shares of NASDAQ ZG traded down $0.90 on Tuesday, reaching $82.90. 1,182,466 shares of the company's stock traded hands, compared to its average volume of 588,596. Zillow Group, Inc. has a 12 month low of $51.16 and a 12 month high of $86.58. The business's 50 day simple moving average is $75.17 and its two-hundred day simple moving average is $70.78. The company has a market cap of $20.08 billion, a price-to-earnings ratio of -318.85, a price-to-earnings-growth ratio of 15.78 and a beta of 2.07.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly 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). The firm had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. Zillow Group's revenue was up 14.5% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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.