Rockefeller Capital Management L.P. Raises Position in Zillow Group, Inc. $ZG

Rockefeller Capital Management L.P. increased its stake in Zillow Group, Inc. (NASDAQ:ZG) by 4,488.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,554 shares of the technology company’s stock after buying an additional 15,215 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Zillow Group were worth $1,061,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Arax Advisory Partners lifted its position in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new position in Zillow Group in the fourth quarter worth about $34,000. Kestra Advisory Services LLC purchased a new stake in Zillow Group during the fourth quarter valued at approximately $47,000. Quarry LP purchased a new stake in shares of Zillow Group during the 4th quarter valued at $56,000. Finally, Global Retirement Partners LLC boosted its holdings in Zillow Group by 4,130.0% in the fourth quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock worth $58,000 after acquiring an additional 826 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Up 2.4%

Zillow Group stock opened at $33.42 on Friday. The company has a 50-day moving average price of $36.89 and a 200 day moving average price of $47.67. The stock has a market cap of $7.65 billion, a P/E ratio of 133.68, a PEG ratio of 1.40 and a beta of 1.95. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month high of $90.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, analysts forecast that Zillow Group, Inc. will post 0.9 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ZG. Barclays lowered their price objective on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. KeyCorp dropped their price objective on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Evercore restated an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. BTIG Research restated a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Finally, Citigroup restated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. Thirteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $69.43.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $115,117.20. Following the transaction, the insider directly owned 49,696 shares in the company, valued at approximately $1,858,630.40. This represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erik C. Blachford sold 791 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.80, for a total value of $27,526.80. Following the transaction, the director owned 34,952 shares in the company, valued at $1,216,329.60. This trade represents a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 42,910 shares of company stock worth $1,605,732. Insiders own 29.88% of the company’s stock.

Zillow Group 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.