Cynosure Group LLC Takes $12.25 Million Position in Zillow Group, Inc. (NASDAQ:ZG)

Cynosure Group LLC purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 197,779 shares of the technology company’s stock, valued at approximately $12,248,000. Zillow Group makes up approximately 1.8% of Cynosure Group LLC’s holdings, making the stock its 14th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Zillow Group in the 3rd quarter valued at approximately $29,000. GAMMA Investing LLC grew its holdings in shares of Zillow Group by 86.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 561 shares in the last quarter. Signaturefd LLC increased its stake in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the last quarter. Atria Investments Inc purchased a new stake in shares of Zillow Group during the third quarter worth $231,000. Finally, Maryland State Retirement & Pension System acquired a new stake in Zillow Group during the second quarter valued at $202,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Insider Activity at Zillow Group

In related news, COO Jun Choo sold 10,000 shares of Zillow Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $75.10, for a total transaction of $751,000.00. Following the sale, the chief operating officer now directly owns 88,130 shares of the company’s stock, valued at $6,618,563. This trade represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the transaction, the insider now directly owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. This trade represents a 13.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,264 shares of company stock worth $10,964,365 in the last ninety days. 17.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ZG has been the topic of several research reports. DA Davidson upped their target price on Zillow Group from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup increased their price objective on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Craig Hallum raised their price objective on shares of Zillow Group from $55.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays boosted their target price on shares of Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, JMP Securities increased their price target on shares of Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.18.

Zillow Group Price Performance

NASDAQ ZG opened at $81.87 on Wednesday. The stock has a 50-day simple moving average of $64.08 and a 200 day simple moving average of $53.16. Zillow Group, Inc. has a twelve month low of $38.06 and a twelve month high of $83.25. The stock has a market capitalization of $19.12 billion, a PE ratio of -143.63 and a beta of 2.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million during 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 quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. Research analysts anticipate that Zillow Group, Inc. will post -0.33 EPS for the current year.

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.