1,182,261 Shares in Zillow Group, Inc. $ZG Acquired by Kahn Brothers Group Inc.

Kahn Brothers Group Inc. acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,182,261 shares of the technology company’s stock, valued at approximately $37,265,000. Zillow Group comprises about 0.1% of Kahn Brothers Group Inc.’s portfolio, making the stock its 16th biggest holding.

Several other institutional investors have also added to or reduced their stakes in ZG. Arax Advisory Partners boosted its holdings in shares of Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after purchasing an additional 354 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Zillow Group during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Zillow Group by 183.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after buying an additional 637 shares during the last quarter. Fifth Third Bancorp boosted its stake in Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after buying an additional 921 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Zillow Group in the fourth quarter valued at about $47,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Errol G. Samuelson sold 3,154 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $107,992.96. Following the completion of the sale, the insider directly owned 130,885 shares in the company, valued at $4,481,502.40. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,169 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. The trade was a 6.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 37,351 shares of company stock valued at $1,280,657. 29.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ZG has been the subject of a number of research reports. BTIG Research reissued a “neutral” rating on shares of Zillow Group in a report on Thursday, June 11th. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a report on Monday. The Goldman Sachs Group lowered their price objective on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Citizens Jmp cut their target price on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Finally, Sanford C. Bernstein lowered shares of 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 report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.14.

Zillow Group Trading Up 1.0%

NASDAQ:ZG opened at $36.35 on Friday. The stock has a market cap of $8.17 billion, a P/E ratio of 165.23, a price-to-earnings-growth ratio of 1.57 and a beta of 1.95. The stock’s 50-day moving average is $33.56 and its 200-day moving average is $38.71. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data 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 business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.25 million. During the same quarter last year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current year.

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.