Asset Dedication LLC Purchases New Shares in Zillow Group, Inc. (NASDAQ:ZG)

Asset Dedication LLC acquired a new position in Zillow Group, Inc. (NASDAQ:ZG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 670 shares of the technology company’s stock, valued at approximately $47,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ZG. Future Financial Wealth Managment LLC purchased a new position in shares of Zillow Group during the third quarter valued at about $29,000. Blue Trust Inc. boosted its position in Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after acquiring an additional 172 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Zillow Group during the 4th quarter worth approximately $72,000. GAMMA Investing LLC raised its position in shares of Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after acquiring an additional 561 shares in the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of Zillow Group in the 3rd quarter valued at approximately $95,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ZG shares. Piper Sandler upped their price target on Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Susquehanna increased their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Craig Hallum boosted their price objective on shares of Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. UBS Group raised their target price on shares of Zillow Group from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday. Finally, Canaccord Genuity Group boosted their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.06.

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 4,565 shares of Zillow Group stock in a transaction on Friday, November 29th. The stock was sold at an average price of $86.22, for a total transaction of $393,594.30. Following the transaction, the insider now directly owns 58,217 shares in the company, valued at approximately $5,019,469.74. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Daimler sold 3,694 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $273,282.12. Following the completion of the sale, the insider now owns 18,770 shares of the company’s stock, valued at approximately $1,388,604.60. The trade was a 16.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,689 shares of company stock valued at $12,520,379. 17.14% of the stock is owned by company insiders.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $80.93 on Friday. The firm’s 50-day moving average price is $75.59 and its 200-day moving average price is $63.59. Zillow Group, Inc. has a 52-week low of $38.06 and a 52-week high of $83.67. The company has a market cap of $18.90 billion, a PE ratio of -141.98, a PEG ratio of 10.31 and a beta of 2.09. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last issued its 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. The company had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) earnings per share. As a group, analysts anticipate that Zillow Group, Inc. will post -0.36 EPS for the current year.

About Zillow Group

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.