Geode Capital Management LLC Increases Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Geode Capital Management LLC raised its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,025,060 shares of the technology company's stock after purchasing an additional 32,766 shares during the quarter. Geode Capital Management LLC owned 0.44% of Zillow Group worth $63,523,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ZG. M&T Bank Corp bought a new position in shares of Zillow Group in the third quarter valued at approximately $258,000. State Street Corp lifted its stake in Zillow Group by 0.4% during the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company's stock valued at $49,871,000 after acquiring an additional 2,832 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Zillow Group during the 3rd quarter worth $418,000. Quantinno Capital Management LP bought a new stake in shares of Zillow Group in the 3rd quarter worth $325,000. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Zillow Group in the third quarter valued at about $9,813,000. 20.32% of the stock is owned by institutional investors.

Insider Activity

In other Zillow Group news, CAO Jennifer Rock sold 3,033 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $82.78, for a total value of $251,071.74. Following the sale, the chief accounting officer now owns 57,166 shares of the company's stock, valued at $4,732,201.48. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 value of $89,663.76. Following the transaction, the general counsel now directly owns 31,739 shares of the company's stock, valued at $2,348,051.22. The trade was a 3.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,689 shares of company stock worth $10,395,879 over the last ninety days. Company insiders own 17.14% of the company's stock.

Analysts Set New Price Targets

ZG has been the topic of several analyst reports. Craig Hallum boosted their price target on shares of Zillow Group from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Susquehanna boosted their target price on Zillow Group from $55.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their price target on Zillow Group from $42.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. 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 report on Monday, December 2nd. Finally, Evercore ISI upped their price objective on Zillow Group from $55.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.71.

Zillow Group Stock Performance

Zillow Group stock traded up $2.13 during mid-day trading on Friday, reaching $73.77. The company's stock had a trading volume of 958,748 shares, compared to its average volume of 609,725. The firm's fifty day moving average price is $70.27 and its two-hundred day moving average price is $58.03. 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, Inc. has a 12-month low of $38.06 and a 12-month high of $83.67. The company has a market capitalization of $17.23 billion, a P/E ratio of -129.42 and a beta of 2.08.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $581.00 million during the quarter, compared to analysts' expectations of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. Sell-side analysts predict that Zillow Group, Inc. will post -0.34 EPS for the current fiscal year.

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.