Public Employees Retirement System of Ohio Makes New Investment in Zillow Group, Inc. $ZG

Key Points

• Public Employees Retirement System of Ohio acquired 51,217 Zillow Group shares worth approximately $1.61 million, while institutional investors and hedge funds collectively own 20.32% of the stock.
• Zillow reported quarterly earnings of $0.52 per share, beating estimates by $0.08, with revenue of $772 million—up 17.9% year over year.
• ZG traded near $35.32, well below its 52-week high of $90.22. Analysts hold a consensus “Hold” rating with an average price target of $53.14, while insiders have sold $1.32 million worth of shares over the past 90 days.

Public Employees Retirement System of Ohio bought a new position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 51,217 shares of the technology company's stock, valued at approximately $1,614,000.

A number of other hedge funds have also modified their holdings of the business. Polianta Ltd purchased a new stake in Zillow Group during the 1st quarter valued at about $1,494,000. Independent Franchise Partners LLP lifted its stake in Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company's stock worth $138,135,000 after purchasing an additional 21,862 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Zillow Group during the 2nd quarter worth approximately $1,546,000. Deltroit Asset Management UK LLP purchased a new stake in shares of Zillow Group in the fourth quarter valued at approximately $2,715,000. Finally, MFG Wealth Management Inc. acquired a new stake in shares of Zillow Group in the second quarter valued at approximately $2,146,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

NASDAQ:ZG opened at $35.32 on Tuesday. Zillow Group, Inc. has a 52 week low of $29.03 and a 52 week high of $90.22. The stock's fifty day moving average is $34.23 and its two-hundred day moving average is $38.15. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 160.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.97.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The business had revenue of $772.00 million during the quarter, compared to analysts' expectations of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company's revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, sell-side analysts expect that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 5,661 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares of the company's stock, valued at approximately $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David A. Beitel sold 1,798 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $61,563.52. Following the completion of the transaction, the chief technology officer directly owned 133,013 shares of the company's stock, valued at approximately $4,554,365.12. The trade was a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 38,539 shares of company stock worth $1,323,800 over the last 90 days. 29.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Zillow Group in a research report on Monday, August 24th. Benchmark restated a "buy" rating on shares of Zillow Group in a research report on Monday, August 24th. Royal Bank Of Canada decreased their price target on Zillow Group from $70.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. The Goldman Sachs Group lowered their price target on Zillow Group from $53.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, June 12th. Finally, Piper Sandler cut their price objective on Zillow Group from $55.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $53.14.

Zillow Group Company Profile

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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