Assenagon Asset Management S.A. Boosts Stock Position in Zillow Group, Inc. (NASDAQ:ZG)

Assenagon Asset Management S.A. boosted its holdings in Zillow Group, Inc. (NASDAQ:ZGFree Report) by 160.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,939 shares of the technology company’s stock after buying an additional 30,747 shares during the period. Assenagon Asset Management S.A.’s holdings in Zillow Group were worth $2,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ZG. Norges Bank acquired a new stake in Zillow Group in the 4th quarter worth about $59,032,000. BlackRock Inc. lifted its stake in shares of Zillow Group by 16.0% in the 3rd quarter. BlackRock Inc. now owns 2,489,506 shares of the technology company’s stock valued at $71,275,000 after purchasing an additional 343,693 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in shares of Zillow Group in the 4th quarter valued at about $10,502,000. Qube Research & Technologies Ltd lifted its stake in shares of Zillow Group by 50.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Zillow Group in the 4th quarter valued at about $8,291,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Jennifer Rock sold 7,352 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the completion of the transaction, the chief accounting officer now directly owns 56,384 shares in the company, valued at approximately $3,230,239.36. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Jennifer Rock sold 7,352 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the completion of the transaction, the chief accounting officer now directly owns 56,384 shares in the company, valued at approximately $3,230,239.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now owns 17,181 shares of the company’s stock, valued at $996,669.81. The disclosure for this sale can be found here. Insiders sold a total of 171,289 shares of company stock worth $9,642,508 in the last three months. 17.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZG has been the topic of several research analyst reports. Susquehanna lifted their price objective on Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. JMP Securities lifted their price objective on Zillow Group from $60.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 14th. Barclays lifted their price objective on Zillow Group from $32.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, February 21st. Benchmark lifted their price objective on Zillow Group from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Zillow Group in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.71.

Check Out Our Latest Stock Report on ZG

Zillow Group Stock Performance

Shares of ZG opened at $45.75 on Wednesday. The business’s 50 day moving average is $52.46 and its two-hundred day moving average is $47.70. Zillow Group, Inc. has a 52-week low of $33.23 and a 52-week high of $59.23. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of -67.28 and a beta of 1.83. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZGGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.06. The business had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. Analysts forecast that Zillow Group, Inc. will post -0.15 EPS for the current fiscal year.

About Zillow Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Zillow Group (NASDAQ:ZG)

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