Credit Industriel ET Commercial Takes $1.98 Million Position in Zillow Group, Inc. $ZG

Credit Industriel ET Commercial bought a new position in Zillow Group, Inc. (NASDAQ:ZG) in the 1st quarter, Holdings Channel reports. The firm bought 47,873 shares of the technology company’s stock, valued at approximately $1,981,000.

A number of other large investors have also recently made changes to their positions in ZG. Tabor Asset Management LP purchased a new stake in Zillow Group in the 3rd quarter worth about $2,428,000. M&T Bank Corp boosted its position in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares during the period. Emmett Investment Management LP bought a new position in shares of Zillow Group during the third quarter valued at approximately $2,860,000. Polianta Ltd bought a new position in shares of Zillow Group during the first quarter valued at approximately $1,494,000. Finally, Independent Franchise Partners LLP raised its holdings in shares of Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after buying an additional 21,862 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Trading Up 1.7%

NASDAQ ZG opened at $33.50 on Tuesday. The stock has a fifty day simple moving average of $36.41 and a 200-day simple moving average of $47.19. Zillow Group, Inc. has a twelve month low of $29.03 and a twelve month high of $90.22. The stock has a market cap of $7.66 billion, a PE ratio of 134.30, a P/E/G ratio of 1.43 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Research analysts predict that Zillow Group, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. The trade was a 5.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Errol G. Samuelson sold 2,939 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the transaction, the insider owned 134,039 shares of the company’s stock, valued at approximately $5,089,460.83. The trade was a 2.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 42,910 shares of company stock valued at $1,605,732. 29.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ZG. BTIG Research restated a “neutral” rating on shares of Zillow Group in a report on Thursday, June 11th. The Goldman Sachs Group dropped their price objective on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Robert W. Baird decreased their price objective on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Piper Sandler reduced their target price on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Mizuho reduced their price target on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $69.48.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.