Vanguard Group Inc. Buys 57,693 Shares of Zillow Group, Inc. $ZG

Key Points

• Vanguard Group Inc. has increased its stake in Zillow Group by 0.8%, acquiring an additional 57,693 shares, resulting in ownership of 7,002,693 shares valued at approximately $468 million.
• A number of other investors have also recently increased their holdings in Zillow Group, with institutional investors now owning 20.32% of the company's stock.
• Zillow Group reported quarterly earnings of $0.40 per share, missing analysts' expectations, but saw a 14.5% increase in revenue year over year, totaling $655 million.

Vanguard Group Inc. lifted its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,002,693 shares of the technology company's stock after purchasing an additional 57,693 shares during the period. Vanguard Group Inc. owned 2.89% of Zillow Group worth $468,200,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ZG. Franklin Resources Inc. raised its stake in Zillow Group by 42.1% in the 4th quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company's stock valued at $336,000 after acquiring an additional 1,405 shares during the period. Envestnet Asset Management Inc. raised its stake 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 acquiring an additional 600 shares during the period. Renaissance Technologies LLC raised its stake in Zillow Group by 97.8% in the 4th quarter. Renaissance Technologies LLC now owns 62,100 shares of the technology company's stock valued at $4,400,000 after acquiring an additional 30,700 shares during the period. Raymond James Financial Inc. bought a new stake in Zillow Group in the 4th quarter valued at $14,916,000. Finally, Sterling Capital Management LLC raised its stake in Zillow Group by 57.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the technology company's stock valued at $200,000 after acquiring an additional 1,032 shares during the period. Institutional investors own 20.32% of the company's stock.

Zillow Group Trading Down 2.7%

ZG stock traded down $2.1480 during trading hours on Wednesday, hitting $77.8620. 67,265 shares of the stock were exchanged, compared to its average volume of 555,851. The firm has a market capitalization of $18.86 billion, a P/E ratio of -299.31, a P/E/G ratio of 15.22 and a beta of 2.07. The company has a 50-day simple moving average of $73.97 and a two-hundred day simple moving average of $70.83. Zillow Group, Inc. has a 12 month low of $51.16 and a 12 month high of $86.58.

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

Insider Buying and Selling

In related news, Director Thielke Claire Cormier sold 8,247 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $79.86, for a total value of $658,605.42. Following the transaction, the director owned 725 shares in the company, valued at approximately $57,898.50. This trade represents a 91.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Wacksman sold 11,275 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.73, for a total value of $966,605.75. Following the completion of the transaction, the chief executive officer owned 153,113 shares in the company, valued at $13,126,377.49. The trade was a 6.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 580,379 shares of company stock valued at $49,319,729 in the last ninety days. Insiders own 17.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ZG shares. Wedbush restated an "outperform" rating and issued a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research note on Thursday, May 8th. 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. Piper Sandler increased their price target on Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their price objective on Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Susquehanna reiterated a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Thirteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $85.62.

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.