Kahn Brothers Group Inc. Acquires New Holdings in Zillow Group, Inc. $ZG

Kahn Brothers Group Inc. bought a new position in shares of Zillow Group, Inc. (NASDAQ:ZG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,182,261 shares of the technology company’s stock, valued at approximately $37,265,000. Zillow Group accounts for approximately 0.1% of Kahn Brothers Group Inc.’s holdings, making the stock its 16th largest position. Kahn Brothers Group Inc. owned approximately 0.52% of Zillow Group as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC raised its position in Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after buying an additional 3,717 shares during the last quarter. Millennium Management LLC boosted its position in Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after acquiring an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Zillow Group by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after acquiring an additional 5,737 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zillow Group by 5.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Zillow Group by 16.3% in the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock valued at $543,000 after purchasing an additional 1,110 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Insider Activity

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the sale, the insider owned 44,561 shares in the company, valued at $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol G. Samuelson sold 3,154 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $107,992.96. Following the completion of the sale, the insider directly owned 130,885 shares of the company’s stock, valued at approximately $4,481,502.40. The trade was a 2.35% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 37,351 shares of company stock valued at $1,280,657. 29.88% of the stock is owned by insiders.

Zillow Group Trading Up 1.0%

Shares of ZG opened at $36.35 on Friday. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 165.23, a PEG ratio of 1.57 and a beta of 1.95. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22. The company’s fifty day simple moving average is $33.56 and its 200 day simple moving average is $38.71.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Zillow Group’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. As a group, research analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Mizuho cut their price objective on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Benchmark reissued a “buy” rating on shares of Zillow Group in a research report on Monday. BTIG Research restated a “neutral” rating on shares of Zillow Group in a research note on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Zillow Group in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.14.

Zillow Group 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.