Avitas Wealth Management LLC Takes Position in Zillow Group, Inc. (NASDAQ:ZG)

Avitas Wealth Management LLC purchased a new position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,224 shares of the technology company's stock, valued at approximately $1,562,000.

Several other hedge funds also recently made changes to their positions in ZG. Principal Financial Group Inc. bought a new position in shares of Zillow Group during the 1st quarter worth approximately $219,000. Fidelis Capital Partners LLC acquired a new stake in shares of Zillow Group in the 1st quarter valued at approximately $32,000. Central Pacific Bank Trust Division acquired a new stake in shares of Zillow Group in the 1st quarter valued at approximately $84,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Zillow Group in the 1st quarter valued at approximately $118,000. Finally, Duality Advisers LP boosted its holdings in shares of Zillow Group by 36.9% in the 1st quarter. Duality Advisers LP now owns 20,455 shares of the technology company's stock valued at $979,000 after buying an additional 5,510 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares of the company's stock, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total value of $172,696.86. Following the transaction, the director now directly owns 2,826 shares of the company's stock, valued at $172,696.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,999 shares of company stock valued at $11,780,363. 17.14% of the stock is currently owned by corporate insiders.

Zillow Group Price Performance

Zillow Group stock traded up $1.25 during midday trading on Wednesday, reaching $57.73. The company's stock had a trading volume of 346,200 shares, compared to its average volume of 617,904. Zillow Group, Inc. has a 52 week low of $33.23 and a 52 week high of $66.75. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $58.55 and a 200-day moving average price of $49.59. The stock has a market cap of $13.64 billion, a PE ratio of -83.67 and a beta of 2.01.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million for the quarter, compared to analysts' expectations of $538.36 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on Zillow Group from $58.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Evercore ISI raised their price target on Zillow Group from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. UBS Group raised their price target on Zillow Group from $70.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Susquehanna raised their price target on Zillow Group from $42.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 price target on shares of Zillow Group in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.53.

Zillow Group 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.