Asset Dedication LLC Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

Asset Dedication LLC acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 670 shares of the technology company’s stock, valued at approximately $47,000.

Other institutional investors and hedge funds 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 acquiring an additional 32,766 shares during the last quarter. State Street Corp grew its holdings in shares of Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company’s stock valued at $49,871,000 after purchasing an additional 2,832 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after purchasing an additional 35,503 shares during the last quarter. US Bancorp DE raised its stake in Zillow Group by 6.5% during the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock valued at $18,444,000 after purchasing an additional 18,136 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in Zillow Group by 132.1% during the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock valued at $12,929,000 after purchasing an additional 118,830 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Insiders Place Their Bets

In related news, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares of the company’s stock, valued at $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Bradley D. Owens sold 1,212 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $89,663.76. Following the completion of the transaction, the general counsel now owns 31,739 shares of the company’s stock, valued at $2,348,051.22. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,689 shares of company stock worth $12,520,379 in the last three months. Corporate insiders own 17.14% of the company’s stock.

Zillow Group Stock Up 1.5 %

Shares of NASDAQ ZG opened at $80.93 on Friday. Zillow Group, Inc. has a 52-week low of $38.06 and a 52-week high of $83.67. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of -141.98, a PEG ratio of 10.31 and a beta of 2.09. The stock has a 50 day moving average price of $75.59 and a 200 day moving average price of $63.59. 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 (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million for 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 business’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) EPS. Sell-side analysts expect that Zillow Group, Inc. will post -0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

ZG has been the topic of a number of research reports. JMP Securities boosted their target price on shares of Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. DA Davidson upped 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. Susquehanna raised their price objective on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Evercore ISI boosted their target price on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price target on Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.06.

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.