Raymond James Financial Inc. Has $14.62 Million Stock Position in Zillow Group, Inc. $ZG

Key Points

• Raymond James Financial Inc. increased its stake in Zillow Group, Inc. by 3.9%, now owning 218,732 shares valued at approximately $14.6 million.
• While Zillow reported a 0.40 EPS for the latest quarter, it fell short of analyst expectations of $0.44, despite revenue increasing by 14.5% year-over-year.
• Analysts have a generally positive outlook on Zillow, with several firms raising their target prices, resulting in a consensus target price of $85.62 and a rating mix of 13 Buy, 11 Hold, and 1 Sell.

Raymond James Financial Inc. raised its position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 3.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 218,732 shares of the technology company's stock after buying an additional 8,197 shares during the period. Raymond James Financial Inc. owned about 0.09% of Zillow Group worth $14,624,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ZG. Envestnet Asset Management Inc. boosted its position in Zillow Group by 13.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock valued at $364,000 after buying an additional 600 shares during the last quarter. Mariner LLC lifted its stake in shares of Zillow Group by 18.9% in the 4th quarter. Mariner LLC now owns 8,157 shares of the technology company's stock valued at $578,000 after purchasing an additional 1,299 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Zillow Group by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company's stock valued at $31,578,000 after purchasing an additional 27,345 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Zillow Group by 35.8% in the 4th quarter. Hsbc Holdings PLC now owns 6,454 shares of the technology company's stock valued at $457,000 after purchasing an additional 1,703 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Zillow Group by 8.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,993 shares of the technology company's stock valued at $2,551,000 after purchasing an additional 2,673 shares during the period. 20.32% of the stock is currently owned by institutional investors.

Insider Transactions at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,014 shares of Zillow Group stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $257,244.90. Following the sale, the general counsel owned 42,593 shares of the company's stock, valued at $3,635,312.55. This trade represents a 6.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeremy Wacksman sold 11,275 shares of Zillow Group stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.73, for a total value of $966,605.75. Following the completion of the sale, the chief executive officer directly owned 153,113 shares in the company, valued at $13,126,377.49. This represents a 6.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 580,379 shares of company stock worth $49,319,729. 17.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ZG shares. Benchmark cut their price target on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada increased their price target on Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. DA Davidson increased their price target on Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Evercore ISI increased their price target on Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $85.62.

Zillow Group Stock Down 1.2%

Zillow Group stock traded down $1.00 during mid-day trading on Friday, hitting $81.48. 285,942 shares of the company's stock were exchanged, compared to its average volume of 626,349. The firm has a market capitalization of $19.74 billion, a P/E ratio of -313.38, a PEG ratio of 15.35 and a beta of 2.02. Zillow Group, Inc. has a fifty-two week low of $51.16 and a fifty-two week high of $86.58. The company's 50 day simple moving average is $76.11 and its 200-day simple moving average is $70.76.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The business had revenue of $655.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

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.