On September 20, 2023, it was reported that Consilio Wealth Advisors LLC has acquired a new stake in Zillow Group, Inc. (NASDAQ:Z) during the second quarter of the year. According to their disclosure with the Securities and Exchange Commission (SEC), the institutional investor now holds 4,473 shares of Zillow Group’s stock, valued at approximately $225,000.
Zillow Group recently released its quarterly earnings data on August 2nd, where it reported an earnings per share (EPS) of ($0.05) for the quarter. The company generated $506.00 million in revenue during this period. It is worth noting that Zillow Group had a negative net margin of 9.61% and a negative return on equity of 2.78%.
In other news related to Zillow Group, insider Errol G. Samuelson sold 19,000 shares of the company’s stock on August 30th in a transaction that amounted to $1,000,540. Following this sale, Samuelson now directly owns 131,455 shares of Zillow Group’s stock with an estimated value of $6,922,420.30. This transaction was disclosed in a filing with the Securities & Exchange Commission and can be accessed via the provided hyperlink.
Furthermore, Insider Errol G. Samuelson also sold an additional 5,672 shares of Zillow Group’s stock on August 16th at an average price of $53.71 per share. Consequently, after this sale, Samuelson now retains ownership of 150,455 shares in the company with an approximate value of $8,080,938.05.
It is essential to mention that insiders have sold a total of 82,745 shares valued at $4,313.,262 within the last ninety days alone equivalent to about15.30% ownership stake in the company.
These recent activities involving Consilio Wealth Advisors LLC and insider selling in Zillow Group shed light on the shifts in ownership and investor sentiment towards the company. It remains to be seen how these developments will impact Zillow Group’s future performance.
[bs_slider_forecast ticker=”VYGR”]
Institutional Holdings and Analyst Insights Signal Potential for Zillow Group Investment Opportunity
As of September 20, 2023, there have been significant changes in the institutional holdings of Zillow Group, a leading financial services provider. One notable change is that Vanguard Group Inc. has boosted its holdings in the company by 8.4% during the first quarter. With this increase, Vanguard now owns 23,675,244 shares of Zillow Group’s stock valued at $1,166,953,000. This surge in ownership was achieved after acquiring an additional 1,837,593 shares in the last quarter.
Pacer Advisors Inc. has also increased its position in Zillow Group during the first quarter, with a growth rate of 25.7%. Pacer Advisors Inc. now possesses a total of 6,221,674 shares of the company’s stock valued at $276,678,000 after acquiring an additional 1,271,544 shares during that period.
Interestingly enough, Southpoint Capital Advisors LP has entered the Zillow Group market as well by making a new position worth approximately $44,470,000 in the first quarter. Additionally, Renaissance Technologies LLC also joined as a fresh buyer during this period and made a purchase worth around $46,880,000.
Moreover,&Dorsal Capital Management LLC managed to expand their holdings significantly by raising its stake in Zillow Group by 69.9% since the fourth quarter.&Dorsal Capital Management LLC now holds approximately&1&,750&,000&shares-of-the-financial-services provider’s-stock-worth-$56&,368&,000&after-acquiring-an-additional-720&,000-shares-in-during-the-period.
All these investments indicate that Zillow Group has garnered attention from hedge funds as well as other institutional investors.&Around*&71%,17%&of-the-company’s-stock-is-currently-owned-by-hedge-funds-and-other-institutional-investors.This highlights the trust these major players have in the company and suggests that it may be a worthwhile investment opportunity for others to consider.
On Wednesday, Zillow Group opened at $47.37 on NASDAQ. The stock’s 12-month range has fluctuated between $26.14 and $57.19, indicating a volatility trend within the market.&Furthermore, the stock’s&50-day moving average is listed as $52.52 while its 200-day moving average stands at $47.87.
Several analysts have closely observed Zillow Group’s performance recently and provided their insights on the stock.&An analyst from Morgan Stanley, for example, reaffirmed an “equal weight” rating and issued a target price of $55.00 on shares of Zillow Group in a research report published on August 3rd.
Similarly, VNET Group also restated an “initiates” rating on Zillow Group shares in a report released on June 27th last year. Meanwhile, TheStreet upgraded Zillow Group’s rating from a “d+” to a “c-” in a research report issued on July 19th in the same year. Wells Fargo & Company incremented their price target from $50.00 to $55.00, further endorsing the potential of investing in Zillow Group.
Altogether, out of all the available data from Bloomberg, it can be concluded that three investment analysts have given the stock a hold rating while two have assigned it a buy rating.&Hence,&the overall consensus rating for Zillow Group is currently listed as “Hold”, with an average price target estimated at $53.50.
For those interested in keeping up with the latest analysis on Zillow Group and staying informed about its future prospects, it is recommended to follow reliable sources or consult professional advisors before making any investment decisions.&With its recent acquisitions by prominent institutional investors and varying opinions from analysts, monitoring this company presents itself as an intriguing investment opportunity.
