EFG Asset Management Americas Corp. Boosts Stock Position in Zillow Group, Inc. (NASDAQ:ZG)

EFG Asset Management Americas Corp. lifted its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 56.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,442 shares of the technology company’s stock after purchasing an additional 13,149 shares during the period. EFG Asset Management Americas Corp.’s holdings in Zillow Group were worth $1,641,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in Zillow Group in the first quarter worth about $32,000. Quadrant Capital Group LLC raised its stake in Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after buying an additional 237 shares in the last quarter. EntryPoint Capital LLC bought a new position in Zillow Group in the first quarter worth about $53,000. Signaturefd LLC raised its stake in Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Zillow Group during the first quarter valued at approximately $84,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZG has been the subject of several analyst reports. DA Davidson reissued a “buy” rating and set a $52.00 price target on shares of Zillow Group in a research report on Tuesday, June 18th. UBS Group raised their price target on shares of Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays raised their price target on shares of Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald assumed coverage on shares of Zillow Group in a research report on Thursday. They set a “neutral” rating and a $47.00 price target for the company. Finally, Susquehanna raised their target price on shares of Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.56.

Zillow Group Price Performance

NASDAQ ZG traded down $0.44 on Friday, reaching $51.53. The company had a trading volume of 362,760 shares, compared to its average volume of 644,399. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $11.93 billion, a PE ratio of -74.68 and a beta of 2.00. The firm’s 50 day moving average price is $49.15 and its 200 day moving average price is $46.91. Zillow Group, Inc. has a 12 month low of $33.23 and a 12 month high of $59.23.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same period in the previous year, the firm posted ($0.05) EPS. Zillow Group’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

Insider Transactions at Zillow Group

In other news, Director Erik C. Blachford sold 1,413 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $54.87, for a total value of $77,531.31. Following the sale, the director now directly owns 35,403 shares in the company, valued at approximately $1,942,562.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Erik C. Blachford sold 1,413 shares of Zillow Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $54.87, for a total transaction of $77,531.31. Following the completion of the transaction, the director now directly owns 35,403 shares of the company’s stock, valued at approximately $1,942,562.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag purchased 816,866 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $43.14 per share, with a total value of $35,239,599.24. Following the completion of the purchase, the director now owns 1,185,540 shares in the company, valued at approximately $51,144,195.60. The disclosure for this purchase can be found here. Insiders have sold a total of 200,971 shares of company stock worth $10,314,285 in the last three months. Insiders own 17.14% of the company’s stock.

Zillow Group Company 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.