Zillow Group, Inc. $ZG Shares Acquired by M&T Bank Corp

M&T Bank Corp grew its stake in Zillow Group, Inc. (NASDAQ:ZG) by 38,344.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,604,270 shares of the technology company’s stock after purchasing an additional 1,600,097 shares during the period. M&T Bank Corp owned approximately 0.66% of Zillow Group worth $120,092,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Aberdeen Group plc acquired a new position in shares of Zillow Group in the third quarter valued at approximately $2,529,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Zillow Group in the third quarter valued at approximately $1,443,000. Tabor Asset Management LP acquired a new position in shares of Zillow Group in the third quarter valued at approximately $2,428,000. Emmett Investment Management LP acquired a new position in Zillow Group during the third quarter worth $2,860,000. Finally, SG Americas Securities LLC acquired a new position in Zillow Group during the third quarter worth $930,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $46.18 on Wednesday. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 513.17, a price-to-earnings-growth ratio of 2.33 and a beta of 2.10. Zillow Group, Inc. has a fifty-two week low of $39.14 and a fifty-two week high of $90.22. The stock’s fifty day moving average is $43.58 and its two-hundred day moving average is $59.58.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. As a group, sell-side analysts forecast that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ZG. Wells Fargo & Company dropped their price objective on Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. Citizens Jmp dropped their price objective on Zillow Group from $90.00 to $85.00 and set a “market outperform” rating on the stock in a report on Monday, January 12th. Cantor Fitzgerald dropped their price objective on Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Susquehanna set a $50.00 price objective on Zillow Group in a report on Thursday, February 12th. Finally, Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.05.

Insider Buying and Selling

In other Zillow Group news, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total value of $340,481.78. Following the sale, the chief financial officer owned 57,487 shares of the company’s stock, valued at approximately $2,513,906.51. This represents a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Wacksman sold 13,661 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the sale, the chief executive officer directly owned 116,322 shares in the company, valued at $5,147,248.50. This trade represents a 10.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,801 shares of company stock valued at $2,683,986 in the last three months. 17.14% of the stock is owned by insiders.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.