Sherbrooke Park Advisers LLC Invests $529,000 in Zillow Group, Inc. (NASDAQ:ZG)

Sherbrooke Park Advisers LLC bought a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,471 shares of the technology company's stock, valued at approximately $529,000.

A number of other hedge funds have also modified their holdings of ZG. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group in the fourth quarter worth approximately $27,000. Blue Trust Inc. grew its stake in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock valued at $30,000 after buying an additional 172 shares in the last quarter. Asset Dedication LLC acquired a new position in Zillow Group in the fourth quarter worth approximately $47,000. Assetmark Inc. increased its holdings in Zillow Group by 18,875.0% in the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company's stock worth $54,000 after buying an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in 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 acquiring an additional 159 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Down 2.9%

Shares of Zillow Group stock traded down $1.91 during trading on Wednesday, reaching $64.42. 543,949 shares of the company were exchanged, compared to its average volume of 563,136. Zillow Group, Inc. has a twelve month low of $38.40 and a twelve month high of $86.58. The business has a 50-day moving average price of $65.94 and a 200-day moving average price of $71.73. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of -137.06, a P/E/G ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted 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). The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Zillow Group's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ZG shares. Citigroup decreased their price target on Zillow Group from $98.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Susquehanna upped their price target on Zillow Group from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Stephens reaffirmed an "overweight" rating and set a $73.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. Benchmark decreased their price target on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Piper Sandler boosted their price target on shares of Zillow Group from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.80.

Insider Transactions at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This represents a 38.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Wacksman sold 10,984 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 $757,676.32. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 157,741 shares of company stock valued at $11,414,034 over the last three months. 17.14% of the stock is currently owned by corporate insiders.

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.