Jacobs Levy Equity Management Inc. Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

Jacobs Levy Equity Management Inc. acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,375 shares of the technology company’s stock, valued at approximately $1,597,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZG. Treasurer of the State of North Carolina grew its holdings in Zillow Group by 0.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock worth $1,390,000 after buying an additional 230 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after purchasing an additional 237 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Zillow Group by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock valued at $1,254,000 after purchasing an additional 250 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Zillow Group by 2.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,542 shares of the technology company’s stock worth $882,000 after purchasing an additional 360 shares during the last quarter. Finally, New York Life Investment Management LLC grew its position in Zillow Group by 6.7% in the 4th quarter. New York Life Investment Management LLC now owns 6,365 shares of the technology company’s stock worth $361,000 after purchasing an additional 401 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Down 6.4 %

Shares of ZG opened at $44.38 on Friday. Zillow Group, Inc. has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The firm has a 50 day moving average price of $45.23 and a 200-day moving average price of $47.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.32 and a current ratio of 3.32.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 1st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $529.00 million during the quarter, compared to analyst estimates of $509.30 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. As a group, research analysts forecast that Zillow Group, Inc. will post -0.42 earnings per share for the current year.

Insider Activity at Zillow Group

In other news, insider Susan Daimler sold 4,931 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $44.29, for a total transaction of $218,393.99. Following the completion of the sale, the insider now directly owns 19,556 shares in the company, valued at $866,135.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zillow Group news, General Counsel Bradley D. Owens sold 4,183 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $44.79, for a total transaction of $187,356.57. Following the transaction, the general counsel now directly owns 36,011 shares of the company’s stock, valued at approximately $1,612,932.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Daimler sold 4,931 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $44.29, for a total transaction of $218,393.99. Following the completion of the sale, the insider now directly owns 19,556 shares of the company’s stock, valued at $866,135.24. The disclosure for this sale can be found here. Insiders sold 60,041 shares of company stock worth $2,637,477 in the last three months. 17.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on Zillow Group from $40.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Craig Hallum lowered their price objective on shares of Zillow Group from $65.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. DA Davidson reissued a “buy” rating and set a $52.00 target price on shares of Zillow Group in a research report on Tuesday, June 18th. Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of Zillow Group in a report on Tuesday, April 30th. Finally, Canaccord Genuity Group reduced their price objective on Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and an average target price of $57.14.

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.