Raymond James Trust N.A. Boosts Stock Position in Zillow Group, Inc. (NASDAQ:ZG)

Raymond James Trust N.A. increased its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 19.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,674 shares of the technology company’s stock after purchasing an additional 2,500 shares during the quarter. Raymond James Trust N.A.’s holdings in Zillow Group were worth $971,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Zillow Group in the 3rd quarter valued at $29,000. EntryPoint Capital LLC purchased a new stake in Zillow Group in the 1st quarter valued at $53,000. GAMMA Investing LLC grew its holdings in Zillow Group by 86.7% in the 3rd 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 in the last quarter. Signaturefd LLC lifted its stake 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 purchasing an additional 360 shares during the last quarter. Finally, Atria Investments Inc acquired a new position in shares of Zillow Group in the 3rd quarter valued at $231,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zillow Group

In related news, 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 owns 31,739 shares in the company, valued at approximately $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 7,155 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total value of $407,047.95. Following the sale, the chief financial officer now owns 111,239 shares in the company, valued at $6,328,386.71. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,419 shares of company stock valued at $11,371,413 over the last quarter. Company insiders own 17.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ZG. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a research note on Monday, October 7th. JMP Securities increased their target price on Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. DA Davidson increased their target price on Zillow Group from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Craig Hallum increased their target price on Zillow Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada increased their target price on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.18.

Zillow Group Price Performance

ZG stock opened at $80.79 on Monday. The stock has a 50-day moving average price of $63.67 and a two-hundred day moving average price of $52.89. Zillow Group, Inc. has a 12-month low of $38.06 and a 12-month high of $81.74. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a market cap of $18.87 billion, a PE ratio of -141.74 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The firm had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, research analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current year.

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.