Daiwa Securities Group Inc. Purchases Shares of 893 Zillow Group, Inc. (NASDAQ:ZG)

Daiwa Securities Group Inc. purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 893 shares of the technology company’s stock, valued at approximately $63,000.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Zillow Group in the fourth quarter worth about $14,916,000. Cynosure Group LLC bought a new position in shares of Zillow Group in the third quarter worth about $12,248,000. Mirabella Financial Services LLP bought a new position in shares of Zillow Group in the third quarter worth about $11,351,000. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Zillow Group in the third quarter worth about $9,813,000. Finally, Virtu Financial LLC boosted its stake in shares of Zillow Group by 132.1% in the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock worth $12,929,000 after acquiring an additional 118,830 shares during the period. Institutional investors own 20.32% of the company’s stock.

Insider Activity

In related news, COO Jun Choo sold 55,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the transaction, the chief operating officer now owns 86,853 shares of the company’s stock, valued at $6,790,167.54. This represents a 38.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,065 shares of company stock valued at $7,660,165. 17.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ZG has been the subject of a number of recent analyst reports. Evercore ISI upped their price objective on Zillow Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Robert W. Baird initiated coverage on Zillow Group in a research report on Friday, January 31st. They issued a “neutral” rating and a $88.00 target price on the stock. Citigroup boosted their target price on Zillow Group from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. UBS Group boosted their target price on Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group boosted their target price on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Zillow Group Price Performance

Shares of ZG stock opened at $68.90 on Tuesday. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $86.58. The stock’s 50 day simple moving average is $74.97 and its two-hundred day simple moving average is $69.62. The company has a market cap of $16.71 billion, a PE ratio of -146.60, a price-to-earnings-growth ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. Equities research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

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.