National Bank of Canada FI Raises Stock Holdings in Zillow Group, Inc. (NASDAQ:ZG)

National Bank of Canada FI boosted its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 7,309.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 26,675 shares of the technology company’s stock after purchasing an additional 26,315 shares during the period. National Bank of Canada FI’s holdings in Zillow Group were worth $1,178,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ZG. Vanguard Group Inc. raised its holdings in Zillow Group by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after acquiring an additional 1,730,731 shares during the period. Norges Bank bought a new stake in shares of Zillow Group during the 4th quarter valued at $102,096,000. UBS Group AG raised its stake in shares of Zillow Group by 73.0% during the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the period. US Bancorp DE lifted its holdings in Zillow Group by 42.6% during the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after purchasing an additional 73,504 shares in the last quarter. Finally, Raymond James & Associates grew its position in shares of Zillow Group by 7.0% during the 2nd quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock valued at $8,694,000 after purchasing an additional 12,616 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. DA Davidson reiterated a “buy” rating and issued a $52.00 price objective on shares of Zillow Group in a research report on Tuesday, June 18th. Craig Hallum lifted their price target on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. UBS Group raised their price objective on Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Evercore ISI lifted their target price on shares of Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald started coverage on Zillow Group in a research note on Thursday, September 5th. They issued a “neutral” rating and a $47.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.56.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $54.88 on Friday. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of -79.54 and a beta of 2.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The firm’s 50-day moving average is $49.94 and its 200 day moving average is $46.98. Zillow Group, Inc. has a 1 year low of $33.23 and a 1 year high of $59.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the sale, the chairman now owns 582 shares in the company, valued at approximately $29,583.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the sale, the chief accounting officer now directly owns 79,694 shares in the company, valued at $3,923,335.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,548 shares of company stock worth $10,221,048. 17.14% of the stock is owned by insiders.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.