Nellore Capital Management LLC Invests $6.82 Million in Zillow Group, Inc. (NASDAQ:ZG)

Nellore Capital Management LLC acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 96,300 shares of the technology company's stock, valued at approximately $6,823,000. Zillow Group makes up about 0.9% of Nellore Capital Management LLC's investment portfolio, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZG. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Zillow Group during the 4th quarter worth $27,000. Blue Trust Inc. raised its holdings in shares of Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock worth $30,000 after acquiring an additional 172 shares during the period. Asset Dedication LLC purchased a new position in shares of Zillow Group during the 4th quarter worth $47,000. Assetmark Inc. raised its holdings in shares of Zillow Group by 18,875.0% during the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company's stock worth $54,000 after acquiring an additional 755 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock worth $58,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 20.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Susquehanna lifted their price target on Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Stephens reissued an "overweight" rating and set a $73.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. KeyCorp cut their price objective on Zillow Group from $95.00 to $85.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. DA Davidson cut their price objective on Zillow Group from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Evercore ISI raised their price objective on Zillow Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and an average target price of $81.80.

Insider Transactions at Zillow Group

In related news, insider Dan Spaulding sold 5,534 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the completion of the sale, the insider now owns 68,889 shares in the company, valued at $4,751,963.22. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Rock sold 5,997 shares of the business'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 value of $408,155.82. Following the sale, 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. Over the last ninety days, insiders sold 157,741 shares of company stock valued at $11,414,034. 17.14% of the stock is currently owned by corporate insiders.

Zillow Group Price Performance

Shares of Zillow Group stock traded up $1.54 on Friday, reaching $68.76. 475,465 shares of the company were exchanged, compared to its average volume of 562,099. Zillow Group, Inc. has a 1-year low of $38.40 and a 1-year high of $86.58. The company has a market cap of $16.68 billion, a P/E ratio of -146.30, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22. The stock's 50 day moving average price is $66.00 and its 200-day moving average price is $71.51.

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

Zillow Group Company 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.