Hsbc Holdings PLC Purchases 127,468 Shares of Zillow Group, Inc. $ZG

Hsbc Holdings PLC grew its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 1,616.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,352 shares of the technology company’s stock after acquiring an additional 127,468 shares during the period. Hsbc Holdings PLC’s holdings in Zillow Group were worth $5,602,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ZG. Signaturefd LLC lifted its stake in shares of Zillow Group by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after purchasing an additional 161 shares during the period. PNC Financial Services Group Inc. grew its stake in Zillow Group by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock worth $147,000 after purchasing an additional 198 shares during the period. Lido Advisors LLC grew its stake in Zillow Group by 0.4% during the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock worth $3,627,000 after purchasing an additional 215 shares during the period. Royal London Asset Management Ltd. increased its holdings in Zillow Group by 1.4% in the second quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock worth $1,248,000 after purchasing an additional 247 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Zillow Group by 7.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,915 shares of the technology company’s stock worth $258,000 after purchasing an additional 258 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Performance

ZG stock opened at $29.56 on Friday. The business has a 50-day simple moving average of $33.70 and a two-hundred day simple moving average of $43.91. The company has a market capitalization of $6.76 billion, a P/E ratio of 118.24, a price-to-earnings-growth ratio of 1.34 and a beta of 1.95. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, sell-side analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Barclays dropped their target price on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Citigroup reissued a “market outperform” rating on shares of Zillow Group in a research note on Tuesday, May 26th. Mizuho reduced their price target on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Canaccord Genuity Group decreased their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and an average target price of $69.48.

Insiders Place Their Bets

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.23, for a total transaction of $125,241.72. Following the transaction, the general counsel directly owned 65,245 shares in the company, valued at approximately $2,429,071.35. This trade represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the transaction, the insider directly owned 49,696 shares in the company, valued at $1,858,630.40. This represents a 5.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 42,910 shares of company stock worth $1,605,732 in the last three months. 29.88% of the stock is owned by corporate insiders.

Zillow Group Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.