JPMorgan Chase & Co. Purchases 20,238 Shares of Zillow Group, Inc. (NASDAQ:ZG)

JPMorgan Chase & Co. grew its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 155.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,258 shares of the technology company’s stock after buying an additional 20,238 shares during the quarter. JPMorgan Chase & Co.’s holdings in Zillow Group were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Zillow Group by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock worth $63,523,000 after buying an additional 32,766 shares in the last quarter. State Street Corp increased its stake in Zillow Group by 0.4% in the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company’s stock worth $49,871,000 after buying an additional 2,832 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after buying an additional 35,503 shares in the last quarter. Selkirk Management LLC increased its stake in Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after buying an additional 87,300 shares in the last quarter. Finally, US Bancorp DE increased its stake in Zillow Group by 6.5% in the 3rd quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after buying an additional 18,136 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZG. Cantor Fitzgerald restated a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. Royal Bank of Canada raised their price objective on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. DA Davidson raised their price objective on Zillow Group from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, JMP Securities raised their price objective on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Insiders Place Their Bets

In other news, General Counsel Bradley D. Owens sold 1,212 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total transaction of $89,663.76. Following the sale, the general counsel now directly owns 31,739 shares of the company’s stock, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer Rock sold 3,033 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $82.78, for a total transaction of $251,071.74. Following the sale, the chief accounting officer now directly owns 57,166 shares in the company, valued at $4,732,201.48. This trade represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 139,689 shares of company stock valued at $10,395,879. 17.14% of the stock is currently owned by insiders.

Zillow Group Stock Performance

Shares of NASDAQ:ZG opened at $75.02 on Wednesday. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of -131.61, a price-to-earnings-growth ratio of 12.81 and a beta of 2.09. Zillow Group, Inc. has a 52 week low of $38.06 and a 52 week high of $83.67. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $74.83 and a 200 day moving average of $62.27.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The business had revenue of $581.00 million for the quarter, compared to analyst estimates of $555.45 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, sell-side analysts predict that Zillow Group, Inc. will post -0.36 earnings per share for the current fiscal year.

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.