Coatue Management LLC Cuts Position in Zillow Group, Inc. (NASDAQ:ZG)

Coatue Management LLC trimmed its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,604,905 shares of the technology company’s stock after selling 16,137 shares during the quarter. Coatue Management LLC’s holdings in Zillow Group were worth $196,648,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ZG. Teacher Retirement System of Texas increased its stake in Zillow Group by 22.5% in the first quarter. Teacher Retirement System of Texas now owns 6,719 shares of the technology company’s stock valued at $883,000 after purchasing an additional 1,232 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Zillow Group in the first quarter valued at approximately $187,000. Quilter Plc purchased a new position in Zillow Group in the first quarter valued at approximately $162,000. JPMorgan Chase & Co. increased its stake in Zillow Group by 81.0% in the first quarter. JPMorgan Chase & Co. now owns 90,880 shares of the technology company’s stock valued at $11,939,000 after purchasing an additional 40,681 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in Zillow Group by 124.8% in the first quarter. Ensign Peak Advisors Inc now owns 22,940 shares of the technology company’s stock valued at $3,014,000 after purchasing an additional 12,737 shares during the last quarter. Hedge funds and other institutional investors own 20.97% of the company’s stock.

Several equities research analysts have recently weighed in on ZG shares. Barclays decreased their price objective on Zillow Group from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Friday, August 6th. Zelman & Associates raised Zillow Group from a “hold” rating to a “buy” rating in a report on Monday, August 9th. Berenberg Bank started coverage on Zillow Group in a report on Wednesday, July 21st. They issued a “buy” rating and a $156.00 price objective for the company. Canaccord Genuity decreased their price objective on Zillow Group from $220.00 to $165.00 and set a “buy” rating for the company in a report on Friday, August 6th. Finally, Morgan Stanley increased their price objective on Zillow Group from $153.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $168.19.

Shares of ZG stock traded up $1.45 during mid-day trading on Thursday, reaching $95.46. The stock had a trading volume of 4,171 shares, compared to its average volume of 624,627. Zillow Group, Inc. has a 12-month low of $84.92 and a 12-month high of $212.40. The company has a market cap of $24.20 billion, a P/E ratio of 163.83 and a beta of 1.28. The business has a 50-day simple moving average of $95.18 and a 200 day simple moving average of $111.68. The company has a current ratio of 3.82, a quick ratio of 3.11 and a debt-to-equity ratio of 0.23.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Thursday, August 5th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. Zillow Group had a return on equity of 3.63% and a net margin of 3.70%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Research analysts anticipate that Zillow Group, Inc. will post -0.03 EPS for the current year.

Zillow Group Company Profile

Zillow Group, Inc engages in the provision of real estate and home-related information marketplaces on mobile and the web. It operates through the following segments: Internet, Media & Technology (IMT), Homes and Mortgages segment. The IMT segment includes premier agent, rentals and new construction marketplaces, as well as dotloop, display and other advertising and business software solutions.

Featured Story: Strangles

Want to see what other hedge funds are holding ZG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zillow Group, Inc. (NASDAQ:ZG).

Institutional Ownership by Quarter for Zillow Group (NASDAQ:ZG)

Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.