Newbridge Financial Services Group Inc. Boosts Stake in Zillow Group, Inc. (NASDAQ:Z)

Newbridge Financial Services Group Inc. grew its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 77.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,415 shares of the financial services provider’s stock after purchasing an additional 618 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Zillow Group were worth $82,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Zillow Group during the 4th quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Zillow Group in the 3rd quarter worth approximately $33,000. Principal Securities Inc. bought a new stake in shares of Zillow Group in the 4th quarter worth approximately $53,000. Clearstead Advisors LLC boosted its position in shares of Zillow Group by 1,724.1% in the 3rd quarter. Clearstead Advisors LLC now owns 1,058 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Zillow Group in the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Price Performance

Shares of NASDAQ:Z traded up $0.67 during midday trading on Tuesday, hitting $47.48. The company had a trading volume of 518,978 shares, compared to its average volume of 3,896,707. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.21. Zillow Group, Inc. has a 12-month low of $33.80 and a 12-month high of $61.13. The company has a fifty day moving average of $42.97 and a two-hundred day moving average of $49.84.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.42). Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The business had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $509.30 million. During the same quarter in the previous year, the company posted ($0.06) EPS. As a group, analysts anticipate that Zillow Group, Inc. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Zillow Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lowered their price objective on Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, May 2nd. Finally, Wedbush decreased their target price on shares of Zillow Group from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.20.

Insiders Place Their Bets

In other Zillow Group news, General Counsel Bradley D. Owens sold 1,373 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $44.15, for a total transaction of $60,617.95. Following the completion of the transaction, the general counsel now owns 40,194 shares of the company’s stock, valued at approximately $1,774,565.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Susan Daimler sold 5,907 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $47.74, for a total value of $282,000.18. Following the completion of the transaction, the insider now owns 29,665 shares of the company’s stock, valued at approximately $1,416,207.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,373 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $44.15, for a total transaction of $60,617.95. Following the completion of the transaction, the general counsel now directly owns 40,194 shares of the company’s stock, valued at approximately $1,774,565.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,260 shares of company stock worth $2,846,739. Corporate insiders own 23.76% of the company’s stock.

About Zillow Group

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.