abrdn plc Purchases 9,633 Shares of Zillow Group, Inc. (NASDAQ:ZG)

abrdn plc lifted its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 110.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,328 shares of the technology company’s stock after acquiring an additional 9,633 shares during the period. abrdn plc’s holdings in Zillow Group were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Zillow Group by 1.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock valued at $1,254,000 after purchasing an additional 250 shares in the last quarter. Ieq Capital LLC lifted its stake in shares of Zillow Group by 2.3% in the 3rd quarter. Ieq Capital LLC now owns 12,955 shares of the technology company’s stock valued at $580,000 after acquiring an additional 286 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Zillow Group by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,542 shares of the technology company’s stock valued at $882,000 after acquiring an additional 360 shares in the last quarter. Rafferty Asset Management LLC grew its position in Zillow Group by 5.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 7,647 shares of the technology company’s stock worth $343,000 after acquiring an additional 414 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its holdings in Zillow Group by 1.1% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 38,154 shares of the technology company’s stock worth $2,207,000 after purchasing an additional 416 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZG has been the topic of several analyst reports. Bank of America cut Zillow Group from a “buy” rating to a “neutral” rating in a report on Wednesday, January 10th. Susquehanna upped their price objective on shares of Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. DA Davidson reaffirmed a “buy” rating and issued a $63.00 target price on shares of Zillow Group in a research report on Friday, April 5th. Piper Sandler raised their price objective on Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group cut their target price on Zillow Group from $58.00 to $50.00 and set a “hold” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Zillow Group presently has an average rating of “Hold” and a consensus price target of $58.20.

Insiders Place Their Bets

In related news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $56.69, for a total value of $5,314,687.50. Following the sale, the director now owns 5,652 shares in the company, valued at $320,411.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Zillow Group news, CAO Jennifer Rock sold 7,352 shares of Zillow Group 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 owns 56,384 shares in the company, valued at $3,230,239.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is currently owned by company insiders.

Zillow Group Stock Down 0.0 %

Shares of NASDAQ:ZG opened at $43.11 on Tuesday. The stock has a market capitalization of $10.06 billion, a P/E ratio of -63.40 and a beta of 1.83. Zillow Group, Inc. has a 12-month low of $33.23 and a 12-month high of $59.23. The stock’s 50-day moving average price is $48.30 and its 200-day moving average price is $47.65. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. The firm had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $450.75 million. On average, equities analysts anticipate that Zillow Group, Inc. will post -0.15 earnings per share for the current 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.