L & S Advisors Inc Acquires Shares of 25,500 Zillow Group, Inc. (NASDAQ:ZG)

L & S Advisors Inc acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 25,500 shares of the technology company’s stock, valued at approximately $1,579,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mark Asset Management LP acquired a new stake in shares of Zillow Group during the 2nd quarter worth approximately $4,524,000. Selkirk Management LLC grew its position in shares of Zillow Group by 37.4% during the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after buying an additional 87,300 shares during the period. Garde Capital Inc. grew its position in shares of Zillow Group by 132.7% during the 2nd quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock worth $6,297,000 after buying an additional 79,733 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Zillow Group by 93.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after buying an additional 68,984 shares during the period. Finally, Virtu Financial LLC grew its position in shares of Zillow Group by 176.6% during the 2nd quarter. Virtu Financial LLC now owns 89,943 shares of the technology company’s stock worth $4,051,000 after buying an additional 57,426 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Price Performance

Shares of ZG opened at $78.93 on Friday. Zillow Group, Inc. has a 1-year low of $37.34 and a 1-year high of $79.75. The company’s fifty day simple moving average is $63.21 and its 200 day simple moving average is $52.46. 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 issued its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share 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 net margin of 6.17% and a negative return on equity of 2.33%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) earnings per share. As a group, analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the transaction, the insider now directly owns 22,464 shares in the company, valued at approximately $1,217,099.52. This represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Hofmann sold 7,155 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total transaction of $407,047.95. Following the completion of the transaction, the chief financial officer now owns 111,239 shares in the company, valued at $6,328,386.71. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,419 shares of company stock worth $11,371,413 over the last ninety days. Insiders own 17.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZG. Susquehanna lifted their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Citigroup lifted their price objective on shares of Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Evercore ISI lifted their price target on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price target (up previously from $62.00) on shares of Zillow Group in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.18.

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.