Royal London Asset Management Ltd. Grows Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Royal London Asset Management Ltd. grew its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 20.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,270 shares of the technology company’s stock after buying an additional 2,633 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Zillow Group were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after buying an additional 172 shares in the last quarter. Asset Dedication LLC purchased a new stake in shares of Zillow Group in the 4th quarter valued at $47,000. Assetmark Inc. boosted its stake in shares of Zillow Group by 18,875.0% in the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after purchasing an additional 755 shares in the last quarter. Jones Financial Companies Lllp raised its position in Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in Zillow Group in the 4th quarter worth $63,000. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $72.30 on Tuesday. The company has a 50 day simple moving average of $75.07 and a two-hundred day simple moving average of $70.22. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $86.58. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of -153.83, a P/E/G ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. On average, analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the transaction, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This represents a 38.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total transaction of $136,987.76. Following the completion of the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,065 shares of company stock worth $7,660,165 in the last quarter. Corporate insiders own 17.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald raised their price objective on Zillow Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. UBS Group increased their price objective on Zillow Group from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Piper Sandler decreased their target price on shares of Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Finally, Susquehanna increased their price target on shares of Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.25.

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.