Twinbeech Capital LP Buys 38,197 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Twinbeech Capital LP lifted its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 56.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,909 shares of the technology company's stock after purchasing an additional 38,197 shares during the quarter. Twinbeech Capital LP's holdings in Zillow Group were worth $7,504,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ZG. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Zillow Group in the fourth quarter valued at $27,000. Blue Trust Inc. increased its holdings in shares of Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock valued at $30,000 after purchasing an additional 172 shares during the last quarter. Asset Dedication LLC acquired a new position in shares of Zillow Group in the fourth quarter valued at approximately $47,000. Assetmark Inc. grew its position in shares of Zillow Group by 18,875.0% in the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company's stock valued at $54,000 after purchasing an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Zillow Group by 24.0% in the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock valued at $58,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 20.32% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on ZG. Baird R W raised Zillow Group to a "hold" rating in a research report on Friday, January 31st. Robert W. Baird began coverage on shares of Zillow Group in a research report on Friday, January 31st. They set a "neutral" rating and a $88.00 price target on the stock. Barclays lowered their price target on shares of Zillow Group from $64.00 to $60.00 and set an "underweight" rating on the stock in a research report on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target (down from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. Finally, Evercore ISI raised their price target on shares of Zillow Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.80.

Zillow Group Stock Performance

Shares of ZG traded down $0.16 during mid-day trading on Thursday, reaching $64.26. The company had a trading volume of 748,238 shares, compared to its average volume of 564,754. The company's 50 day simple moving average is $65.77 and its 200 day simple moving average is $71.72. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of -136.72, a P/E/G ratio of 8.90 and a beta of 2.22. Zillow Group, Inc. has a 1-year low of $38.40 and a 1-year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $587.88 million. Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 10,984 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $757,676.32. Following the completion of the transaction, the chief executive officer now owns 171,517 shares in the company, valued at approximately $11,831,242.66. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief accounting officer now owns 58,320 shares of the company's stock, 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 sold a total of 157,741 shares of company stock worth $11,414,034 in the last quarter. 17.14% of the stock is owned by insiders.

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.