Wealthquest Corp Takes Position in Zillow Group, Inc. (NASDAQ:ZG)

Key Points

• Wealthquest Corp acquired 3,564 shares of Zillow Group, Inc., valued at approximately $238,000, during the first quarter.
• CEO Jeremy Wacksman and CFO Jeremy Hofmann both sold shares on May 16th, resulting in a 6.02% and 7.55% decrease in their positions, respectively.
• Zillow Group's stock has a recent price of $76.75, with a 1-year low of $40.30 and a high of $86.58, while the company has a market cap of $18.53 billion.

Wealthquest Corp acquired a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,564 shares of the technology company's stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Zillow Group during the fourth quarter valued at approximately $27,000. Salem Investment Counselors Inc. bought a new stake in shares of Zillow Group during the first quarter valued at approximately $42,000. CX Institutional bought a new stake in shares of Zillow Group during the first quarter valued at approximately $46,000. Wood Tarver Financial Group LLC bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $70,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Zillow Group by 13.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company's stock valued at $84,000 after acquiring an additional 138 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,959 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $549,011.82. Following the sale, the chief financial officer directly owned 97,481 shares in the company, valued at approximately $6,724,239.38. The trade was a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group 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 $381,735.32. Following the completion of the sale, the insider owned 68,889 shares of the company's stock, valued at $4,751,963.22. This trade represents a 7.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,093 shares of company stock valued at $6,989,688. Corporate insiders own 17.14% of the company's stock.

Zillow Group Stock Up 0.5%

ZG stock traded up $0.41 during trading on Friday, hitting $77.16. 459,203 shares of the company's stock traded hands, compared to its average volume of 502,296. The firm has a market capitalization of $18.63 billion, a P/E ratio of -226.94, a PEG ratio of 14.25 and a beta of 2.07. The business has a fifty day simple moving average of $71.02 and a two-hundred day simple moving average of $70.62. Zillow Group, Inc. has a 1 year low of $40.30 and a 1 year high of $86.58.

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). Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $587.88 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company's quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ZG shares. DA Davidson reissued a "buy" rating and set a $85.00 price target on shares of Zillow Group in a research report on Friday, July 18th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. William Blair assumed coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Barclays cut their target price 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. Finally, The Goldman Sachs Group cut their target price on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $82.45.

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.