Zillow Group, Inc. (NASDAQ:ZG) Shares Bought by Rhumbline Advisers

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

A number of other hedge funds have also modified their holdings of ZG. Norges Bank acquired a new stake in shares of Zillow Group in the fourth quarter valued at about $165,326,000. Arrowstreet Capital Limited Partnership increased its position in Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock worth $18,454,000 after purchasing an additional 241,331 shares during the last quarter. Virtu Financial LLC increased its position in Zillow Group by 101.3% during the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after purchasing an additional 211,482 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Zillow Group during the fourth quarter worth about $14,916,000. Finally, Sone Capital Management LLC acquired a new stake in Zillow Group during the fourth quarter worth about $11,185,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

Shares of NASDAQ ZG traded down $0.39 during midday trading on Wednesday, hitting $65.96. The company's stock had a trading volume of 555,022 shares, compared to its average volume of 558,172. The business's fifty day simple moving average is $66.01 and its two-hundred day simple moving average is $70.91. Zillow Group, Inc. has a 1 year low of $40.30 and a 1 year high of $86.58. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of -194.00, a price-to-earnings-growth ratio of 12.26 and a beta of 2.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). The business had revenue of $598.00 million during 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 company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity at Zillow Group

In related news, insider Errol G. Samuelson sold 2,854 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the sale, the insider now owns 142,636 shares of the company's stock, valued at $10,460,924.24. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer Rock sold 5,997 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total transaction of $408,155.82. Following the sale, the chief accounting officer now directly owns 58,320 shares in the company, valued at approximately $3,969,259.20. The trade was a 9.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,947 shares of company stock valued at $7,199,000 over the last 90 days. 17.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. Barclays cut their price objective on shares of Zillow Group from $64.00 to $60.00 and set an "underweight" rating for the company in a research report on Thursday, May 8th. DA Davidson lowered their target price on shares of Zillow Group from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Citigroup lowered their target price on shares of Zillow Group from $98.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. UBS Group lowered their target price on shares of Zillow Group from $98.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company initiated coverage on shares of Zillow Group in a research note on Monday, April 28th. They set a "mixed" rating and a $62.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.80.

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.