Geode Capital Management LLC Raises Stock Position in Zillow Group, Inc. (NASDAQ:ZG)

Geode Capital Management LLC raised its position in Zillow Group, Inc. (NASDAQ:ZG) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,025,060 shares of the technology company’s stock after purchasing an additional 32,766 shares during the quarter. Geode Capital Management LLC owned about 0.44% of Zillow Group worth $63,523,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ZG. Signaturefd LLC raised its holdings in Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after buying an additional 360 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Zillow Group by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after acquiring an additional 421 shares during the period. Creative Planning lifted its holdings in shares of Zillow Group by 7.2% in the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after acquiring an additional 439 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Zillow Group during the 3rd quarter worth approximately $29,000. Finally, GAMMA Investing LLC increased its holdings in Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler upped their price target on Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the company from $50.00 to $80.00 in a report on Monday, September 16th. DA Davidson boosted their price target on shares of Zillow Group from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $72.71.

Zillow Group Trading Up 3.0 %

NASDAQ:ZG opened at $73.77 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $83.67. The stock has a market cap of $17.23 billion, a P/E ratio of -129.42 and a beta of 2.08. The stock has a 50-day simple moving average of $70.27 and a 200-day simple moving average of $57.92.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) earnings per share. As a group, analysts anticipate that Zillow Group, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now owns 92 shares in the company, valued at $6,659.88. This represents a 99.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 1,212 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $89,663.76. Following the transaction, the general counsel now directly owns 31,739 shares in the company, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,689 shares of company stock worth $10,395,879 in the last ninety days. 17.14% of the stock is owned by corporate insiders.

Zillow Group Profile

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.