Raymond James Financial Inc. Invests $14.92 Million in Zillow Group, Inc. (NASDAQ:ZG)

Raymond James Financial Inc. acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 210,535 shares of the technology company's stock, valued at approximately $14,916,000. Raymond James Financial Inc. owned 0.09% of Zillow Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Zillow Group by 155.4% during the third quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company's stock worth $2,060,000 after purchasing an additional 20,238 shares during the period. Assenagon Asset Management S.A. boosted its stake in Zillow Group by 28.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company's stock valued at $1,753,000 after acquiring an additional 5,539 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Zillow Group by 136.3% during the fourth quarter. Victory Capital Management Inc. now owns 22,982 shares of the technology company's stock worth $1,628,000 after acquiring an additional 13,255 shares during the last quarter. Virtu Financial LLC lifted its position in Zillow Group by 132.1% during the 3rd quarter. Virtu Financial LLC now owns 208,773 shares of the technology company's stock worth $12,929,000 after acquiring an additional 118,830 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in Zillow Group by 4.9% in the 4th quarter. Vontobel Holding Ltd. now owns 17,208 shares of the technology company's stock valued at $1,219,000 after purchasing an additional 801 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Up 2.6 %

ZG traded up $1.62 during midday trading on Thursday, hitting $64.82. 210,773 shares of the company traded hands, compared to its average volume of 573,124. Zillow Group, Inc. has a 52 week low of $38.06 and a 52 week high of $86.58. The firm has a market capitalization of $15.72 billion, a PE ratio of -137.91, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22. The company's 50-day moving average is $68.36 and its 200 day moving average is $70.64.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results 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, sell-side analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZG has been the topic of a number of recent research reports. Cantor Fitzgerald upped their target price on Zillow Group from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Susquehanna raised their target price on Zillow Group from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. William Blair initiated coverage on shares of Zillow Group in a report on Monday. They issued a "market perform" rating for the company. Benchmark upped their target price on shares of Zillow Group from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Finally, KeyCorp lowered their price objective on shares of Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Zillow Group currently has a consensus rating of "Moderate Buy" and an average price target of $81.05.

Insider Activity at Zillow Group

In other news, COO Jun Choo sold 1,277 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $99,248.44. Following the sale, the chief operating officer now owns 86,853 shares of the company's stock, valued at approximately $6,750,215.16. The trade was a 1.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David A. Beitel sold 2,025 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.75, for a total transaction of $157,443.75. Following the completion of the transaction, the chief technology officer now owns 151,046 shares in the company, valued at approximately $11,743,826.50. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,919 shares of company stock worth $7,869,478. Company insiders own 17.14% of the company's stock.

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.