PEAK6 Investments LLC Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

PEAK6 Investments LLC bought a new stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,843 shares of the technology company's stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZG. Price T Rowe Associates Inc. MD boosted its stake in shares of Zillow Group by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,501 shares of the technology company's stock worth $1,556,000 after buying an additional 1,526 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Zillow Group by 169.9% in the 1st quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company's stock valued at $1,186,000 after acquiring an additional 15,594 shares during the period. Wedmont Private Capital boosted its holdings in Zillow Group by 4.2% in the second quarter. Wedmont Private Capital now owns 12,483 shares of the technology company's stock valued at $610,000 after purchasing an additional 504 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Zillow Group by 24.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company's stock worth $2,233,000 after acquiring an additional 9,828 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Zillow Group by 7.0% during the 2nd quarter. Raymond James & Associates now owns 193,023 shares of the technology company's stock worth $8,694,000 after purchasing an additional 12,616 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

Insider Activity at Zillow Group

In related news, insider Susan Daimler sold 3,484 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the completion of the sale, the insider now owns 22,464 shares in the company, valued at $1,217,099.52. This represents a 13.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dan Spaulding sold 4,565 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $86.22, for a total value of $393,594.30. Following the completion of the transaction, the insider now directly owns 58,217 shares of the company's stock, valued at approximately $5,019,469.74. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,591 shares of company stock worth $11,892,886 in the last 90 days. 17.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ZG. Susquehanna lifted their price objective 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. Craig Hallum boosted their price objective on shares of Zillow Group from $70.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Wedbush raised shares of Zillow Group from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Canaccord Genuity Group boosted their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the stock a "hold" rating in a research note on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Zillow Group from $66.00 to $74.00 and gave the company an "outperform" rating 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. According to MarketBeat, Zillow Group has an average rating of "Moderate Buy" and an average target price of $70.94.

Zillow Group Stock Performance

Shares of NASDAQ ZG traded down $1.85 during mid-day trading on Wednesday, hitting $79.04. 388,438 shares of the company were exchanged, compared to its average volume of 617,647. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $66.20 and a 200-day simple moving average of $54.78. Zillow Group, Inc. has a 1-year low of $38.06 and a 1-year high of $83.67. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of -141.91 and a beta of 2.08.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned ($0.12) EPS. On average, sell-side analysts forecast that Zillow Group, Inc. will post -0.33 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.