Tybourne Capital Management HK Ltd. Cuts Position in Zillow Group, Inc. (NASDAQ:ZG)

Tybourne Capital Management HK Ltd. lowered its position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 95.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,953 shares of the technology company's stock after selling 858,285 shares during the period. Zillow Group makes up about 0.7% of Tybourne Capital Management HK Ltd.'s portfolio, making the stock its 17th largest position. Tybourne Capital Management HK Ltd.'s holdings in Zillow Group were worth $2,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZG. Future Financial Wealth Managment LLC acquired a new stake in Zillow Group in the 3rd quarter worth approximately $29,000. GAMMA Investing LLC grew its holdings in shares of Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company's stock valued at $75,000 after buying an additional 561 shares during the last quarter. Signaturefd LLC increased its position in shares of Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company's stock valued at $71,000 after acquiring an additional 360 shares during the period. Atria Investments Inc purchased a new position in Zillow Group in the 3rd quarter worth $231,000. Finally, Maryland State Retirement & Pension System acquired a new stake in Zillow Group during the 2nd quarter worth about $202,000. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Price Performance

Shares of Zillow Group stock traded up $0.46 during mid-day trading on Thursday, reaching $82.33. 304,431 shares of the stock traded hands, compared to its average volume of 678,150. The stock has a market capitalization of $19.23 billion, a PE ratio of -144.44 and a beta of 2.02. The business has a 50-day moving average of $64.89 and a 200 day moving average of $53.64. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $83.25. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. The company 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 revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS. On average, analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZG. Benchmark raised their price objective on Zillow Group from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Citigroup lifted their price objective on shares of Zillow Group from $58.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Wedbush raised shares of Zillow Group from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $50.00 to $80.00 in a report on Monday, September 16th. Piper Sandler reissued an "overweight" rating and set a $73.00 target price (up previously from $62.00) on shares of Zillow Group in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Zillow Group from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.65.

Insiders Place Their Bets

In other news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total transaction of $188,763.12. Following the sale, the insider now owns 22,464 shares of the company's stock, valued at approximately $1,217,099.52. The trade was a 13.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 7,175 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $85.36, for a total value of $612,458.00. Following the completion of the transaction, the chief financial officer now owns 99,362 shares of the company's stock, valued at $8,481,540.32. The trade was a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,439 shares of company stock valued at $11,576,823 in the last ninety days. 17.14% of the stock is currently owned by corporate insiders.

About Zillow Group

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.