Rhumbline Advisers Purchases 3,765 Shares of Zillow Group, Inc. $ZG

Key Points

• Rhumbline Advisers increased its stake in Zillow Group by 8.0% during the first quarter, owning a total of 51,030 shares valued at approximately $3.4 million.
• Analysts have been bullish on Zillow Group, with thirteen analysts rating it as a Buy and increasing price targets, including Canaccord Genuity raising theirs from $76 to $84.
• Insider activity includes significant sales, with COO Jun Choo selling 25,575 shares valued at over $2.3 million, indicating a 18.31% decrease in their ownership.

Rhumbline Advisers boosted its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,030 shares of the technology company's stock after buying an additional 3,765 shares during the quarter. Rhumbline Advisers' holdings in Zillow Group were worth $3,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Zillow Group by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock worth $122,000 after purchasing an additional 503 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Zillow Group by 60.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock valued at $404,000 after purchasing an additional 2,288 shares during the last quarter. Trexquant Investment LP acquired a new position in Zillow Group during the 1st quarter worth $370,000. SG Americas Securities LLC lifted its position in Zillow Group by 253.3% during the 1st quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock worth $1,403,000 after acquiring an additional 15,042 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Zillow Group during the fourth quarter valued at about $228,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZG. Canaccord Genuity Group increased their price target on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Sanford C. Bernstein upgraded shares of Zillow Group from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $75.00 to $105.00 in a report on Wednesday. Susquehanna reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Evercore ISI raised their target price on shares of Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Fourteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.41.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the transaction, the chief financial officer directly owned 84,146 shares in the company, valued at approximately $7,572,298.54. The trade was a 22.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jun Choo sold 45,710 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the transaction, the chief operating officer owned 117,098 shares of the company's stock, valued at approximately $9,977,920.58. This represents a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 657,087 shares of company stock worth $56,286,479. 17.14% of the stock is owned by company insiders.

Zillow Group Trading Down 3.2%

Shares of ZG traded down $2.75 during midday trading on Friday, reaching $83.69. The stock had a trading volume of 1,283,137 shares, compared to its average volume of 574,860. The firm has a market cap of $20.28 billion, a PE ratio of -321.88, a P/E/G ratio of 24.07 and a beta of 2.02. The firm has a 50 day simple moving average of $80.19 and a 200-day simple moving average of $71.75. Zillow Group, Inc. has a one year low of $55.08 and a one year high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The company had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. During the same period in the previous year, the firm posted $0.39 EPS. The business's quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal 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.