Pinpoint Asset Management Ltd Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

Pinpoint Asset Management Ltd acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG) in the third quarter, HoldingsChannel reports. The fund acquired 1,537 shares of the technology company’s stock, valued at approximately $95,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZG. Future Financial Wealth Managment LLC bought a new stake in Zillow Group in the 3rd quarter valued at $29,000. GAMMA Investing LLC raised its position in shares of Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the period. Signaturefd LLC lifted its stake in shares of Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Zillow Group during the 3rd quarter worth about $212,000. Finally, Atria Investments Inc acquired a new position in Zillow Group in the 3rd quarter valued at about $231,000. Institutional investors own 20.32% of the company’s stock.

Zillow Group Price Performance

Shares of ZG opened at $80.89 on Wednesday. The business has a 50-day moving average of $66.20 and a 200-day moving average of $54.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of -141.91 and a beta of 2.08. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $83.67.

Zillow Group (NASDAQ:ZG) last issued its quarterly 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. The firm 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 company’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) earnings per share. As a group, equities research analysts anticipate that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ZG shares. Susquehanna lifted their target price on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. JMP Securities boosted their price objective on shares of Zillow Group from $62.00 to $82.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a research report on Monday, October 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, Craig Hallum increased their price target on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.94.

Insider Buying and Selling at Zillow Group

In related news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the sale, the insider now directly owns 22,464 shares in the company, valued at approximately $1,217,099.52. This trade represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the transaction, the chief technology officer now owns 92 shares of the company’s stock, valued at $6,659.88. This trade represents a 99.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,591 shares of company stock valued at $11,892,886. Corporate 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.