Schwab Charles Investment Management Inc. Increases Stake in Zillow Group, Inc. (ZG)
Schwab Charles Investment Management Inc. increased its position in Zillow Group, Inc. (NASDAQ:ZG) by 7.7% during the first quarter, Holdings Channel reports. The firm owned 109,927 shares of the technology company’s stock after buying an additional 7,813 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Zillow Group were worth $3,717,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. bought a new position in Zillow Group during the fourth quarter worth $200,000. Fox Run Management L.L.C. bought a new position in Zillow Group during the first quarter worth $213,000. Rafferty Asset Management LLC bought a new position in Zillow Group during the first quarter worth $314,000. Palisade Capital Management LLC NJ bought a new position in Zillow Group during the first quarter worth $406,000. Finally, Karp Capital Management Corp bought a new position in Zillow Group during the first quarter worth $547,000. 26.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Zillow Group, Inc. (NASDAQ ZG) traded down 2.31% during midday trading on Thursday, hitting $39.68. The stock had a trading volume of 90,987 shares. The company’s 50 day moving average price is $45.43 and its 200-day moving average price is $40.43. The firm’s market capitalization is $7.36 billion. Zillow Group, Inc. has a 1-year low of $31.17 and a 1-year high of $50.91.
Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.11. Zillow Group had a negative return on equity of 0.40% and a negative net margin of 4.47%. The firm had revenue of $266.85 million for the quarter, compared to analyst estimates of $262.21 million. During the same quarter last year, the company earned ($0.71) earnings per share. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. Equities analysts predict that Zillow Group, Inc. will post $0.49 earnings per share for the current year.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Zillow Group from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Wednesday. Cowen and Company upped their price target on shares of Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. Royal Bank Of Canada upped their price target on shares of Zillow Group from $40.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Susquehanna Bancshares Inc reissued a “neutral” rating on shares of Zillow Group in a research report on Wednesday, May 17th. Finally, Stephens reissued an “overweight” rating and set a $54.00 target price (up from $48.00) on shares of Zillow Group in a research report on Monday, June 19th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.07.
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