Philadelphia Financial Management of San Francisco LLC Invests $9.81 Million in Zillow Group, Inc. (NASDAQ:ZG)

Philadelphia Financial Management of San Francisco LLC bought a new stake in Zillow Group, Inc. (NASDAQ:ZG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 158,458 shares of the technology company’s stock, valued at approximately $9,813,000. Zillow Group makes up approximately 1.6% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 21st biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Zillow Group by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after buying an additional 35,503 shares in the last quarter. Selkirk Management LLC grew its holdings in shares of Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after buying an additional 87,300 shares during the period. US Bancorp DE increased its holdings in shares of Zillow Group by 6.5% in the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after acquiring an additional 18,136 shares in the last quarter. Cynosure Group LLC acquired a new stake in Zillow Group during the 3rd quarter worth approximately $12,248,000. Finally, Raymond James & Associates lifted its position in Zillow Group by 7.0% in the 2nd quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock valued at $8,694,000 after acquiring an additional 12,616 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other Zillow Group news, insider Susan Daimler sold 3,484 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 22,464 shares of the company’s stock, valued at $1,217,099.52. The trade was a 13.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the sale, the director now owns 2,826 shares of the company’s stock, valued at $172,696.86. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,591 shares of company stock valued at $11,892,886. 17.14% of the stock is owned by company insiders.

Zillow Group Price Performance

ZG opened at $80.89 on Wednesday. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $83.67. The firm has a market cap of $18.89 billion, a PE ratio of -141.91 and a beta of 2.08. The stock has a 50-day moving average price of $66.20 and a 200-day moving average price 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.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) earnings per share. Sell-side analysts predict that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZG. Canaccord Genuity Group increased their target price on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a report on Monday. Benchmark increased their price target on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Susquehanna boosted their price objective on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Evercore ISI lifted their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $80.00 in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.94.

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.