2,338,036 Shares in Zillow Group, Inc. $ZG Bought by Technology Crossover Management XI Ltd.

Technology Crossover Management XI Ltd. bought a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 2,338,036 shares of the technology company's stock, valued at approximately $73,694,895. Zillow Group accounts for 0.0% of Technology Crossover Management XI Ltd.'s holdings, making the stock its 2nd biggest position. Technology Crossover Management XI Ltd. owned 1.02% of Zillow Group as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. M&T Bank Corp lifted its position in Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock worth $120,092,000 after buying an additional 1,600,097 shares in the last quarter. Polianta Ltd bought a new position in shares of Zillow Group during the first quarter valued at about $1,494,000. Independent Franchise Partners LLP increased its position in shares of Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company's stock valued at $138,135,000 after buying an additional 21,862 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Zillow Group during the second quarter worth about $1,546,000. Finally, Deltroit Asset Management UK LLP purchased a new position in Zillow Group in the fourth quarter worth about $2,715,000. Hedge funds and other institutional investors own 20.32% of the company's stock.

Analysts Set New Price Targets

ZG has been the subject of a number of research reports. Evercore set a $40.00 target price on shares of Zillow Group and gave the stock an "in-line" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lowered their price target on shares of Zillow Group from $76.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Zacks Research lowered shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Susquehanna reduced their price target on Zillow Group from $50.00 to $38.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $48.00 price target on shares of Zillow Group in a report on Tuesday. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group currently has an average rating of "Hold" and an average price target of $53.14.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the transaction, the chief financial officer directly owned 59,144 shares of the company's stock, valued at $2,021,541.92. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, insider Errol G. Samuelson sold 3,154 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the sale, the insider owned 130,885 shares of the company's stock, valued at $4,481,502.40. This trade represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 37,351 shares of company stock worth $1,280,657. Company insiders own 29.88% of the company's stock.

Zillow Group Price Performance

Zillow Group stock traded up $0.13 during midday trading on Friday, hitting $36.48. 290,000 shares of the company were exchanged, compared to its average volume of 1,184,353. The company's fifty day moving average price is $33.56 and its 200-day moving average price is $38.71. The company has a market cap of $8.20 billion, a PE ratio of 165.83, a price-to-earnings-growth ratio of 1.57 and a beta of 1.95. Zillow Group, Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $90.22.

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

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.