32,672 Shares in Zillow Group, Inc. $ZG Acquired by Headlands Technologies LLC

Headlands Technologies LLC acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 32,672 shares of the technology company’s stock, valued at approximately $1,025,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AQR Capital Management LLC boosted its stake in shares of Zillow Group by 40.5% during the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after purchasing an additional 3,717 shares during the period. Millennium Management LLC lifted its holdings in Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after buying an additional 152,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Zillow Group by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after buying an additional 5,737 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Zillow Group by 5.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock valued at $1,445,000 after buying an additional 1,150 shares during the period. Finally, Prudential Financial Inc. grew its stake in Zillow Group by 16.3% in the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after acquiring an additional 1,110 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZG has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research note on Monday, August 24th. KeyCorp reaffirmed an “overweight” rating and set a $48.00 target price on shares of Zillow Group in a research report on Tuesday, August 25th. Susquehanna lowered their target price on Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Evercore set a $40.00 price target on Zillow Group and gave the company an “in-line” rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 price objective on shares of Zillow Group in a research note on Monday, August 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Hold” and a consensus target price of $53.14.

Zillow Group Price Performance

Shares of ZG stock opened at $34.36 on Wednesday. The stock’s 50-day moving average is $33.83 and its 200 day moving average is $38.38. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22. The company has a market cap of $7.73 billion, a P/E ratio of 156.19, a PEG ratio of 1.56 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. On average, analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 5,661 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares in the company, valued at $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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, CAO Jennifer Rock sold 990 shares of Zillow Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $33,897.60. Following the completion of the transaction, the chief accounting officer directly owned 58,752 shares in the company, valued at $2,011,668.48. This represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 37,351 shares of company stock valued at $1,280,657 over the last three months. Company 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.