Zillow Group, Inc. $ZG Shares Newly Purchased by Ninety One UK Ltd

Ninety One UK Ltd purchased a new position in Zillow Group, Inc. (NASDAQ:ZG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,787 shares of the technology company’s stock, valued at approximately $548,000.

Several other institutional investors also recently bought and sold shares of the company. Ninety One SA Pty Ltd bought a new position in shares of Zillow Group in the third quarter worth approximately $26,000. Tidal Investments LLC purchased a new stake in shares of Zillow Group during the second quarter valued at approximately $436,000. Engineers Gate Manager LP increased its position in shares of Zillow Group by 1,290.7% during the second quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock valued at $3,010,000 after acquiring an additional 89,059 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Zillow Group during the second quarter valued at approximately $29,000. Finally, Arizona State Retirement System bought a new stake in shares of Zillow Group during the second quarter valued at approximately $340,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ZG. Royal Bank Of Canada restated an “outperform” rating and issued a $55.00 price objective on shares of Zillow Group in a report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $80.00 target price on Zillow Group in a research note on Monday, August 24th. Sanford C. Bernstein downgraded Zillow Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $50.00 to $38.00 in a research note on Thursday, August 6th. Piper Sandler reduced their target price on Zillow Group from $55.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Susquehanna reduced their target price on Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group has an average rating of “Hold” and a consensus price target of $51.19.

Insider Activity at Zillow Group

In related news, CTO David Beitel sold 1,798 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $61,563.52. Following the sale, the chief technology officer owned 133,013 shares in the company, valued at approximately $4,554,365.12. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol Samuelson sold 3,154 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the sale, the insider owned 130,885 shares in the company, valued at $4,481,502.40. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,539 shares of company stock valued at $1,323,800 over the last quarter. 29.88% of the stock is owned by company insiders.

Zillow Group Stock Performance

ZG opened at $32.43 on Friday. The stock has a market capitalization of $7.29 billion, a P/E ratio of 147.42, a P/E/G ratio of 1.27 and a beta of 2.02. The company’s 50-day simple moving average is $32.58 and its two-hundred day simple moving average is $35.37. Zillow Group, Inc. has a 52-week low of $27.25 and a 52-week high of $76.32.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. During the same quarter last year, the firm posted $0.40 EPS. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. Research analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers buy, sell, rent and finance homes. Founded in 2006 and headquartered in Seattle, Washington, the company serves the U.S. residential real estate market through a portfolio of well-known brands.

Its flagship Zillow platform provides home listings, property information, estimated home values through its Zestimate tool, rental listings, mortgage resources and connections to real estate professionals.