Philadelphia Financial Management of San Francisco LLC Takes $9.81 Million Position in Zillow Group, Inc. (NASDAQ:ZG)

Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Zillow Group, Inc. (NASDAQ:ZG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 158,458 shares of the technology company’s stock, valued at approximately $9,813,000. Zillow Group makes up 1.6% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 21st biggest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 0.07% of Zillow Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinpoint Asset Management Ltd acquired a new position in Zillow Group in the 3rd quarter valued at $95,000. Maven Securities LTD acquired a new position in Zillow Group in the third quarter valued at $891,000. Walleye Capital LLC purchased a new position in Zillow Group during the third quarter worth about $212,000. PEAK6 Investments LLC acquired a new stake in Zillow Group in the 3rd quarter worth about $424,000. Finally, CreativeOne Wealth LLC grew its holdings in Zillow Group by 164.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock valued at $11,129,000 after buying an additional 111,743 shares during the period. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZG. Canaccord Genuity Group boosted their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research note on Monday. Citigroup raised their price objective on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI boosted their target price on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Benchmark increased their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.94.

Insider Buying and Selling

In related news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the sale, the director now owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 78.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the sale, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,591 shares of company stock valued at $11,892,886 in the last quarter. Company insiders own 17.14% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $80.89 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. Zillow Group, Inc. has a 12 month low of $38.06 and a 12 month high of $83.67. The company has a fifty day moving average price of $66.20 and a two-hundred day moving average price of $54.78. The company has a market cap of $18.89 billion, a PE ratio of -141.91 and a beta of 2.08.

Zillow Group (NASDAQ:ZG) last issued its 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 analysts’ expectations of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. Zillow Group’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) earnings per share. Research analysts expect that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

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.