Northern Trust Corp Increases Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Northern Trust Corp grew its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,078 shares of the technology company's stock after buying an additional 6,088 shares during the quarter. Northern Trust Corp owned 0.11% of Zillow Group worth $17,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Empire Financial Management Company LLC bought a new position in shares of Zillow Group during the fourth quarter valued at about $1,771,000. Price T Rowe Associates Inc. MD grew its stake in shares of Zillow Group by 8.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,993 shares of the technology company's stock valued at $2,551,000 after buying an additional 2,673 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Zillow Group by 35.8% during the fourth quarter. Hsbc Holdings PLC now owns 6,454 shares of the technology company's stock valued at $457,000 after buying an additional 1,703 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Zillow Group by 233.1% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,001 shares of the technology company's stock valued at $709,000 after buying an additional 6,999 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Zillow Group by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company's stock worth $31,578,000 after purchasing an additional 27,345 shares during the period. 20.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Zillow Group from $81.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Benchmark dropped their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Baird R W upgraded shares of Zillow Group to a "hold" rating in a report on Friday, January 31st. Royal Bank of Canada reiterated an "outperform" rating and set a $88.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Finally, William Blair assumed coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.80.

Zillow Group Stock Up 2.3%

Shares of ZG stock traded up $1.54 during trading hours on Friday, hitting $68.76. 475,465 shares of the company's stock traded hands, compared to its average volume of 562,811. The stock's fifty day simple moving average is $66.00 and its two-hundred day simple moving average is $71.61. Zillow Group, Inc. has a 12-month low of $38.40 and a 12-month high of $86.58. The stock has a market cap of $16.68 billion, a price-to-earnings ratio of -146.30, a PEG ratio of 8.90 and a beta of 2.22.

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

Insider Activity

In related news, General Counsel Bradley D. Owens sold 1,154 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $68.74, for a total transaction of $79,325.96. Following the completion of the sale, the general counsel now owns 50,681 shares of the company's stock, valued at $3,483,811.94. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jun Choo sold 55,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at $6,790,167.54. This trade represents a 38.77% 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 worth $11,414,034. Insiders own 17.14% of the company's stock.

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.