Tybourne Capital Management HK Ltd. Decreases Stock Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Tybourne Capital Management HK Ltd. cut its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 95.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,953 shares of the technology company’s stock after selling 858,285 shares during the quarter. Zillow Group accounts for approximately 0.7% of Tybourne Capital Management HK Ltd.’s investment 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 quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Zillow Group by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,501 shares of the technology company’s stock worth $1,556,000 after acquiring an additional 1,526 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Zillow Group during the 1st quarter valued at approximately $1,597,000. California State Teachers Retirement System raised its holdings in Zillow Group by 169.9% during 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 buying an additional 15,594 shares during the period. PGGM Investments raised its holdings in Zillow Group by 7.3% during the 1st quarter. PGGM Investments now owns 60,585 shares of the technology company’s stock valued at $2,900,000 after buying an additional 4,144 shares during the period. Finally, Garde Capital Inc. lifted its position in Zillow Group by 1.0% in the first quarter. Garde Capital Inc. now owns 60,072 shares of the technology company’s stock worth $2,875,000 after buying an additional 600 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZG. Canaccord Genuity Group increased their target price on shares of Zillow Group from $56.00 to $64.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Benchmark upped their target price on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Craig Hallum raised their price target on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One equities 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 currently has an average rating of “Moderate Buy” and an average target price of $69.65.

Zillow Group Stock Up 0.6 %

NASDAQ ZG opened at $82.33 on Thursday. Zillow Group, Inc. has a 52-week low of $38.06 and a 52-week high of $83.25. 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 firm’s 50 day moving average price is $64.50 and its 200-day moving average price is $53.44.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. During the same quarter last year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities analysts forecast that Zillow Group, Inc. will post -0.33 EPS for the current year.

Insider Activity at Zillow Group

In related news, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the transaction, the insider now directly owns 22,464 shares of the company’s stock, valued at $1,217,099.52. This represents a 13.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Bradley D. Owens sold 1,212 shares of the firm’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 completion of the sale, the general counsel now directly owns 31,739 shares of the company’s stock, valued at approximately $2,348,051.22. This represents a 3.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,439 shares of company stock valued at $11,576,823 over the last quarter. 17.14% of the stock is owned by corporate insiders.

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.